Study Says Weed Sales Could Quadruple By 2020
As Washington, Colorado and Oregon report "record-setting" legal marijuana sales in 2015, it doesn't come too much as a surprise that the weed industry is proving and growing to be much bigger in the next few years.
In fact, according to cannabis research firm ArcView Market Research, in conjunction with New Frontier data, legal marijuana sales are projected to hit $21.8 billion in total annual sales by 2020. That's four times the size of legal weed sales in 2015.
In 2015, legal cannabis sales rose 17 percent, having a total annual income of $5.4 billion, as compared to 2014's $4.6 billion. The 2015 marijuana sales include over $1 billion of medical marijuana sales in California, almost $1 billion of Colorado's sales, and over $500 million from Washington.
Current projections are now expecting a 25 percent sales growth in 2016, raking in $6.7 billion. "It is undeniable that cannabis...
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