The legal marijuana market is exploding — it'll hit almost $10 billion sales in this year

Analysts predict the market to hit $24.5 billion in sales by 2021, despite continued federal prohibition
Business Insider (US)
Friday, December 8, 2017

The market for legal marijuana is heating up in a big way. Legal marijuana sales are predicted to hit $9.7 billion in North America in 2017, according to a new report from cannabis industry analysts Arcview Market Research, in partnership with BDS Analytics. That represents an unprecedented 33% increase over 2016, shattering previous expectations about how quickly the cannabis industry could grow in the face of federal prohibition. The report further predicts the entire legal cannabis market to reach $24.5 billion in sales — a 28% annual growth rate by 2021 — as more states legalize marijuana for recreational use and existing markets mature.