New Frontier Data, a cannabis market research and analytics firm has given a peek at the trajectory path for the marijuana industry in 2017. They are predicting that by the year 2025, the cannabis industry will be a 24 billion dollar industry. They have also predicted that nearly 225,000 jobs will be created in as little as 3 years.
Of course these numbers are to be just taken as a round about figure because unforeseeable changes could affect the outcome. Factors to consider would be a federal rescheduling or a full scale crackdown, both of which could cause a shake-up within the industry. The industry has so many unique factors and varied regulations that it’s difficult to predict the near future.
Just Colorado alone, for the month of March 2017, has topped $131M. That’s up $5M in only one month.
California will end up being accountable for ¼ of the cannabis sales in the United States. They project that by 2025, the top 4 states to make up the biggest amount in sales will be California ($6.59B), Florida MMJ Only ($2.51B), Washington State ($2.14) and Colorado ($1.3B).
Medical marijuana sales are projected to increase at a whopping 13% annual growth rate while recreational marijuana is going to grow at a much more rapid rate of at least 25% annual growth rate. Most of the calculations are made according to the economic impact on Colorado. It makes such a big impact that Colorado is shining light on their cannabis consumers spending habits so they can tailor sales to fit their customer’s needs and budgets.
Although these figures my grossly overestimate potential sales figures, it does give us a rough guesstimate to go by and shows what everyone already knew, cannabis brings in the money.
Green is the new Green!
And as always.. Inhale Responsibly!