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Home 🌿 Marijuana Business News 🌿 Marijuana Sales in 2016 Estimated Over $6.7 Billion 🌿

Marijuana Sales in 2016 Estimated Over $6.7 Billion

Submitted by Marijuana News on Wed, 01/04/2017 - 08:26

ArcView Market Research released their annual cannabis market summary, and the numbers are staggering for the legal marijuana industry. In their 4th edition of The State of Legal Marijuana Markets they report that an amazing 30% growth rate occurred in the industry, which makes it the fastest growing industry in the country by far. The pace is even greater than the dot-com era, which grew at only a 22% rate.

ArcView teamed up with New Frontier, a data analysis company, and based their figures on data from BDS Analytics, a market research company. BDS has access to millions of dispensary transactions giving them unique insight unavailable from many companies. They found that the U.S. and Canada sold an estimated $6.7 billion in products in 2016. This was the first year Arcview included Canada in their research.

“The only consumer industry categories I’ve seen reach $5 billion in annual spending and...

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