Soaring Sales Forecasts for Colorado, Massachusetts Marijuana Markets
The first state to legalize recreational marijuana use is on track to see total sales top $2 billion by 2020. Colorado’s medical marijuana sales for this year are projected at $438 million, and recreational sales are forecast to reach $739 million. By 2020, medical cannabis sales are forecast to reach $663 million and recreational sales are expected to hit $1.34 billion.
Massachusetts, where voters last month chose to add recreational sales to already legal medical sales, is forecast to post sales of $1.07 billion in 2020, up from just $52 million in estimated medical cannabis sales in 2016.
The data were reported Wednesday by New Frontier Data and Arcview Market Research in separate reports on the cannabis markets in Colorado and Massachusetts.
Arcview CEO Troy Dayton said:
The naysayers said the sky would fall in Colorado and that the tax money and jobs wouldn’t ever really materialize. The naysayers were
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