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Home 🌿 Marijuana Business News 🌿 Marijuana Market Projected to Hit $6.7 Billion In Sales In 2016 🌿

Marijuana Market Projected to Hit $6.7 Billion In Sales In 2016

Submitted by Marijuana News on Mon, 02/01/2016 - 08:58

As voters in more states embrace legalized marijuana sales, the burgeoning cannabis industry has gone from a curiosity to a bona fide booming market.

Just how big is the market for legal pot? A new report by a leading marijuana industry investment and research firm found legal cannabis sales jumped 17%, to $5.4 billion, in 2015 and they will grow by a whopping 25% this year to reach $6.7 billion in total U.S. sales.

The numbers are staggering, considered the first recreational dispensaries opened for business in Colorado only two years ago.

On Monday, ArcView Market Research will release its fourth edition of The State of Legal Marijuana Markets report, and it includes the prediction that the legal cannabis market will see a whopping $21.8 billion in total annual sales by 2020. (By comparison, at that point, the legal marijuana market could be bigger than the National Football League,...

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