Cannabis is among the fastest-growing markets in the U.S., poised to outpace the expansion of the global smartphone marketand Neutra Corp. (OTCBB: NTRR) is readying a diverse product line to capitalize on that growth.
In November, The Huffington Post reported on a publication by Arcview Market Research that surveyed hundreds of medical cannabis retailers, processors, dispensary owners and industry leaders over the course of six months last year. Researchers estimated that more than $1.43 billion worth of legal marijuana were sold in 2013 and predicted that figure to grow by 64 percent to $2.34 billion this year.
By comparison, recent figures show that the smartphone market expanded by 46 percent from 2012 to 2013.
"Virtually no domestic market is growing as quickly as cannabis," said NTRR CEO Sydney Jim. "That's why entrepreneurs and investors are flocking to this industry. We're very enthusiastic about the gains predicted for this sector, and we're working hard to provide new innovations to make the industry less harmful, more predictable and more profitable."
The report cited by Huffington predicts that 14 more states will legalize cannabis for recreational adult use in the next five years, potentially creating a $10.2 billion market by 2018. To capitalize, NTRR is working alongside innovative partners to deliver game-changing solutions for cannabis growers, patients and retailers. The company is developing a diverse line of products for each niche in the marketplace in order to capture the largest share possible of the red-hot market.
By providing a variety of new technologies designed to ensure safer, more reliable access to cannabis in approved markets, Neutra Corp. plans to enjoy unprecedented growth in 2014 alongside Cannabis Science, Inc. (OTCBB: CBIS), GW Pharmaceuticals, plc (NASDAQ: GWPH) and CannaBusiness Group, Inc. (PINK: CBGI), delivering technological advancements in the cultivation and processing of cannabis in approved markets.