San Francisco(CNN Business) Fueled in part by CBD product sales and Canada’s recent legalization of marijuana, the world’s cannabis market could notch $15 billion this year.

Industry insiders are forecasting that global cannabis sales could total $14.9 billion in 2019, up 36% from 2018, according to a new report released Thursday.

For the first time, the annual “The State of Legal Cannabis Markets” report evaluated the cannabis industry as the “Total Cannabinoid Market,” meaning it encompassed sales of medical and recreational cannabis at dispensaries; hemp-derived products rich in non-psychoactive cannabidiol, or CBD; and US Food & Drug Administration approved CBD-based pharmaceuticals. Read More