The legal marijuana industry is already booming in North America, and it’s only expected to increase even more this year. According to research by ArcView, North American consumers spent $6.9 billion on legal products last year, up 34% from 2015.
Very few consumer industry categories reach $5 billion in annual spending and then post anything like 25% compound annual growth across the following five years. [ArcView]
ArcView believes the legal market will only expand in the coming years, projecting it will grow to $21.6 billion by 2021. This graph highlights spending in North America:
With legalization looming in Canada, the ‘green rush’ is going to continue!