Marijuana Sales Totaled $6.7 Billion In 2016
North American sales are projected to top $20.2 billion by 2021 assuming a compound annual growth rate of 25%. The report includes Canada for the first time as it moves towards implementing legal adult use marijuana.
To put this in perspective, this industry growth is larger and faster than even the dot-com era. During that time, GDP grew at a blistering pace of 22%. Thirty percent is an astounding number especially when you consider that the industry is in early stages.
Washington Tops $1.1 Billion in Cannabis Sales at 9-Month Mark
Cannabis sales in Washington state continue to grow at a steady rate, with total 2017 sales topping $1.1 billion at the end of September. The state’s nine-month sales total of $1,101,853,539 fell just short of Colorado’s sales from the same time period, which totaled $1,118,207,832.
Legal pot sales top $1 billion in 2 states
The legal marijuana industry generated almost $7 billion in sales in 2016, according to Arcview Market Research, which keeps tabs on the industry. Arcview expects more than $21 billion in revenue by 2021.
29 Legal Medical Marijuana States and DC – Laws, Fees, and Possession Limits
This list includes states that have legalized use of the marijuana plant for medical purposes…
6 Next States Predicted to Legalize Weed by 2018
“I think some of the states that have medical programs already will implement or legalize recreational use soon. So, for example, Connecticut, Rhode Island and Vermont, could be next given the proximity to Massachusetts. I could also mention Arizona, Michigan and Ohio among others. These are just some of the states that will contribute to the overall $30 billion market by 2021—timing of other states to legalize is provided in our new report.”