The legal weed market is growing as fast as broadband internet in the 2000s
Legal weed is big business.
The North American marijuana market posted $6.7 billion in revenue in 2016, up 30% from the year before, according to a new report from Arcview Market Research, a leading publisher of cannabis market research.
The so-called green rush shows no sign of slowing down.
Arcview projects sales will grow at a compound annual growth rate of 25% through 2021, when the North American market is expected to top $20.2 billion.
"The only consumer industry categories I've seen reach $5 billion in annual spending and then post anything like 25% compound annual growth in the next five years are cable television (19%) in the 1990s and the broadband internet (29%) in the 2000s," Tom Adams, editor in chief of Arcview Market Research, said in a statement.
Adams, who recently joined Arcview after a long stint as a market researcher, says the booming cannabis industry...
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