U.S. adult-use marijuana sales rose 184% in the past year, according to a new report from New Frontier and ArcView Market Research.
ArcView’s estimate for the legal cannabis industry is $5.4 billion for 2015, a big jump from 2014′s $4.6 billion. Most of that increase is due to the incredible growth of recreational marijuana sales which grew from $351 million in 2014 to $998 million in 2015, a 184% increase.
“It is undeniable that cannabis is one of the fastest growing industry in the U.S. Twenty-three states already permit medical cannabis use, along with four states and the District of Columbia allowing full adult use. With nearly a dozen states debating changes to their cannabis laws in the coming year, 2016 will be the tipping point in which a majority of U.S. states transition from cannabis prohibition to some form of regulated legal market,” said New Frontier CEO and Founder Giadha DeCarcer.
– Read the entire article at Forbes.