More than 50 countries, including Australia, Brazil, and Germany, have legalized access to medicinal cannabis, according to Bloomberg Intelligence, making it easier for farmers to plant hemp or marijuana.
Researchers estimate the market for CBD in the U.S. alone could be worth almost $24 billion by 2023. In Canada sales of legal cannabis may reach $4.7 billion by that time, up from about $570 million last year, according to BDS Analytics.