Original article by Trey Williams | January 5, 2017
Sales of marijuana grew 30% in 2016, and as long as acceptance continues to gain steam, the industry could hit $20.2 billion in North America within four years, according to a marijuana market research firm.
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Arcview’s forecast uses research from BDS Analytics, a cannabis business intelligence and market research firm, and incorporates marijuana-usage data from the National Institute on Drug Abuse. It also analyzes the growing acceptance of marijuana state by state and how future potential legalization in other states may impact the market.
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And as marijuana itself gains popularity, so do different ways to ingest it. In Colorado, Washington and Oregon, the three largest legal adult markets, spending was up 62% through September after doubling in 2015. Adams said that growth was fueled, in large part, by the popularity growth of edibles and concentrates.