Explosive Growth of Legal Adult Use and Medical Marijuana Markets
Legal Sales Expected To Grow From $5.7 Billion In 2015 to $22.8 Billion In 2020
With all the 2015 year end data now reported, and a strong opening in legal marijuana sales in 2016, New Frontier and ArcView Market Research have revised their medical and adult use marijuana market projections to reflect the market’s continued explosive growth.
In 2015, the total legal sales grew to $5.7 billion, which is up from $4.6 billion in 2014. Based on growth in 2016, the marijuana market is not forecast to reach $22.8 billion in 2020. The State of Legal Marijuana Markets Report estimates that there will be a compound annual growth rate (CAGR) of 31%. This makes the legal marijuana industry one of the fastest growing sectors in the U.S. economy.
Our teams continuously update the market projections based on new data and industry developments. Revised projections will be released in Q2 of 2016, and include spring sales data.