projections

U.S.: Cannabis Market Reaches New Heights

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A recent report by New Frontier and ArcView Market Research has revealed some very impressive numbers. Sales of legal cannabis products increased by 17 percent in 2015, reaching $5.4 billion, and sales are expected to increase by 25 percent more in 2016, reaching a total value of $6.7 billion.

This is quite an achievement for an industry in which the first legal dispensaries opened just two years ago. By 2020, total legal sales across the U.S. are expected to reach $22 billion.

According to ArcView projections, Washington state is expected to be the largest legal sales market by 2020, with estimated $2.3 billion of total sales. In 2015 alone, legal sales of marijuana products totaled more than $709 million in Washington, which is an increase of an amazing 242 percent over 2014.

It is a rare opportunity when a market that is potentially worth hundreds of billions of dollars is virtually untouched by large companies. While the number of states where the growth and sales of cannabis products remains limited, the majority of the population in the United States approves the end of federal marijuana prohibition nationwide.

For now, in states where cannabis is a legitimate and legal product, sales are through the roof.

U.S.: New Marijuana Market Research Report Predicts $21 Billion Legal Cannabis Market By 2020

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GreenWave Advisors, LLC, a newly established independent research and advisory firm serving the burgeoning marijuana industry, on Tuesday released its inaugural research report, “The GreenWave Report: State of the Emerging Marijuana Industry – Current Trends and Projections.” The firm estimates that retail marijuana industry sales could reach $21 billion by 2020 and separately, suggests that if marijuana is legally sold in all states and D.C. by 2020, the consolidated market for retail medical and adult use sales could total $35 billion in the first full year of a federally legalized market.

The firm is the first to provide a state by state bottom up fundamental analysis of the U.S. medical and adult use marijuana retail markets. The analysis also provides a first glimpse of the similarities in reported results in the legalized markets thus far.

“We are pleased to offer investors the first independent, comprehensive, detailed and transparent look at the market potential of the retail marijuana industry,” said Matt Karnes, founder and managing partner at GreenWave Advisors, LLC.

In the upcoming election, Florida residents will vote on a measure to legalize medical marijuana and the citizens of Alaska, Oregon and the District of Columbia will decide on full legalization. “We want investors to be ready for the imminent changes that will profoundly impact investment strategies in the marijuana industry”, Karnes said.

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