Legal Marijuana Is The Fastest-Growing Industry In The U.S! Or get that over to England, and FAST!
Legal marijuana is the fastest-growing industry in the United States and if the trend toward legalization spreads to all 50 states, marijuana could become larger than the organic food industry. Researchers from The ArcView Group, a cannabis industry investment and research firm based in Oakland, California, found that the U.S. market for legal marijuana grew 74% in 2014 to $2.7 billion, up from $1.5 billion in 2013.
The group surveyed hundreds of medical and recreational marijuana retailers in states where sales are legal, as well as ancillary business operators and independent cultivators of the plant, over the course of seven months during 2013 and 2014. ArcView also compiled data from state agencies, nonprofit organizations and private companies in the marijuana industry for a more complete look at the marketplace.
“In the last year, the rise of the marijuana industry went from an interesting cocktail conversation to being taken seriously as the fastest growing industry in America,” Troy Dayton, CEO of The ArcView Group said in the executive summary of the report. “At this point, it’s hard to imagine that any serious businessperson who is paying attention hasn’t spent some time thinking about the possibilities in this market.”
The report also projects a strong year for legal marijuana in 2015 and projects 32% growth in the market. Dayton said that places “cannabis in the top spot” when compared with other industries. Over the next five years, the cannabis industry is expected to continue to grow, with ArcView predicting that 14 more states will legalize recreational marijuana and two more states will legalize medical cannabis. Four states – Colorado, Washington, Alaska and Oregon — have legalized retail marijuana. Washington, D.C., voters also legalized recreational marijuana use, but sales currently remain banned. Twenty-three states have legalized medical cannabis. Still, cannabis remains illegal at the federal level. The report projects that, by 2019, all of the state-legal cannabis markets combined will make for a potential overall market worth almost $11 billion annually.
The huge growth potential of the industry appears to be limited only by the possibility of states rejecting the loosening of their drug laws. The report projects a cannabis industry that could be more valuable than the entire organic food industry — that is, if the legalization trend continues to the point that all 50 states legalize recreational marijuana. The total market value of all states legalizing cannabis would top $36.8 billion — more than $3 billion larger than the organic food industry. “These are exciting times,” Dayton said in the executive summary, “and new millionaires and possibly billionaires are about to be made, while simultaneously society will become safer and freer.”
So the message is clear, even to that inbred fuckwit and bullingdon club fag George Osborne, LEGALISE IT!