Legal cannabis sales have exploded in North America, experiencing unprecedented 30 percent growth in 2016, totaling a massive $6.7 billion — a greater and faster economic boom than even the oft-heralded dot-com era.
Even more positive — particularly for cannabis purveyors and eager consumers — Forbes reports, assuming compound annual growth of 25 percent, sales are projected to top $20.2 billion in just the next four years.
As the outlet explains:
“To put this in perspective, this industry growth is larger and faster than even the dot-com era. During that time, GDP grew at a blistering pace of 22%. Thirty percent is an astounding number especially when you consider that the industry is in early stages.”
ArcView Market Research published the eye-popping report — using data from BDS Analytics, with access to individual customer transactions from dispensary partners — and included Canada for the first time as the nation makes its nascent foray into the legal cannabis landscape.