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Legal U.S. Marijuana Market Will Grow To $7.1 Billion In 2016: Report

Submitted by Marijuana News on Wed, 04/20/2016 - 08:45

The size of the market for legal marijuana in the United States is projected to grow to $7.1 billion in 2016, according to a report by New Frontier and ArcView Market Research. That represents 26% growth over the previous year, driven largely by adult recreational sales of marijuana, the researchers found.

Legal adult recreational marijuana sales topped $998 million in 2015 compared to $351 million in 2014 — growing 184% year-over-year. America’s 2015 marijuana sales were higher than those of Dasani, Oreos and Girl Scout cookies. 

The states that have legalized weed are seeing windfalls in “green” taxes, such as the $70 million that Colorado took in during the 2014-15 fiscal year. That’s nearly twice as much revenue than the state earned from alcohol taxes. Colorado is expected to generate$135 million in cannabis taxes and licenses fees in fiscal year 2015-16, according to ArcView. The report used medical and...

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Forbes
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