This year’s Cannabis market has been good for Diego Pellicer Worldwide Inc (OTCMKTS:DPWW). The company recently announced a 150% increase in annual sales for the fiscal year ending December 01 2018.
Projected Cannabis Market
Apparently the cannabis wing for the Colarado company, is having a great run in the growing US cannabis market even before the market fully opens up nationally. Statistics by the New Frontier Data valued the US cannabis market at $8.3 billion in 2017. However, as the nation gears to decriminalizing cannabis use, the marketed is estimated to triple at a compounded annual rate of 14.7% to about $25 billion in 2025.
Companies are in a rush to partake in the lucrative sector setting up multiple dispensaries and retail outlets.
Diego Pellicer was awarded the “Best Retailer Center” and “Most Valuable Brand” in the recently concluded 2018 National Cannabis Awards thrashing industry giants like MedMen™, Lightshade, Olio, LiveWell, The Clinic, The Green Solutions, Euflora and Kind Love.
Speaking during the event, Neil Demes, Diego’s Chief Executive Officer said that, “This is monumental. These awards are the pinnacle of the profession, recognizing the best of the best. The premium Diego Pellicer branded stores feature the finest products, hospitality level quality service in an approachable, world-class environment.”
As the current market continues to look up for Diego Pellicer, the company is already focusing on expanding. 2019 is expected to be an even better year for the cannabis industry especially when President Trump assents to the 2018 Farm Bill. It is projected that the market will open for both recreational and pharmaceutical cannabis. Diego Pellicer plans to leverage this by creating more retail locations to boost the company’s sales further.