Consumer Support Ignites Cannabis Sales Projections

NEW YORK, August 11, 2017 /PRNewswire/ —

According to a report by Arcview Market Research, growth of legal cannabis products will reaccelerate starting 2018. Cannabis sales for recreational purposes increase in Canada, California, and Massachusetts, as well as medical cannabis sales in Florida. As a result, the cannabis market will grow from the $6.7-billion market in 2016 at a robust 27% CAGR to $22.6 billion in 2021. The 20+% annual growth rate is likely to continue for many years past 2021 as more states and countries legalize cannabis. The report states, “Cannabis is now legally sold in state-of-the-art retail dispensaries with computer-based inventory and sales tracking, fully regulated and taxed by their state governments just like any other product category. Entrepreneurs are modernizing the product just as quickly. Many successful brands have launched extracts, edibles, topicals, and other types of products.” Global Payout,

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