Skip to Main Content

Here’s How Big The Cannabis Industry Can Really Get

Published on

The North American cannabis industry continues to grow, and the rate of expansion could accelerate further if banking and energy-supply issues can addressed, according to a new report.

According to Inc., combined medical and recreational sales in the U.S. exceeded $5.4‑billion last year, compared with $4.6‑billion in 2014. In 2016, sales could hit $6.7‑billion. Those numbers are based on the State of Legal Marijuana Markets report co-released by by ArcView, a cannabis research firm, and marijuana big data and analytics company New Frontier.

And the industry is poised to grow much larger in the next year. Twenty-three states have already legalized medical cannabis and four have legalized recreational. In 2016, California, Arizona, Maine, Rhode Island, Ohio, Pennsylvania, Massachusetts, Nevada, and Vermont could take steps to legalize through ballot initiatives and votes in state legislatures. Florida, Ohio, Missouri and Pennsylvania will also vote on medical marijuana laws.

Industry still faces challenges with banking, electricity

What to read next

Subscribe to our newsletter

By clicking “submit,” you agree to receive emails from Civilized and accept our web terms of use and privacy and cookie policy.

Let’s see some ID

Where are you from?

Are you at least 21 years of age?

The content of this website cannot be shown unless you verify your age. Please verify to visit our site.