Six Predictions For The Marijuana Industry In 2017
Sour Diesel (Sativa)
Cannabis Scientist Joins the Chorus of Disdain Against Monsanto
Many watched with delight as Prop 64 was approved in California this past November. Others had mixed reactions provoked by fear that big business would sweep in and wipe out the small growers and sellers who had been steadfastly, and quietly, supplying our weed for the last several decades.
They weren’t totally wrong to be concerned; the industry is taking off like wildfire.
Take a look at the numbers: Colorado raked in nearly a billion dollars in the first 10 months of 2016. Forbes Magazine projected the cannabis market could grow 700 percent by 2020, and just about the straightest banking newsletter on earth placed marijuana as the third fasting growing industry in the country (after 3-D printing and drones!).
What strain are you smoking on today?
More Good News for Those Who Want to See Marijuana Legalized
As 2016 comes to a close, it can arguably be described as the best year ever for marijuana. At the beginning of the year, 23 states had legalized medical cannabis, while residents in just four states had voted in favor of legalizing recreational marijuana. By year's end, five new states had legalized medical pot, and another four had voted in favor of legalizing recreational weed.
The sales figures behind pot speak volumes of how far it has come and where it's expected to head next. According to investment firm Cowen & Co., the legal pot industry is worth about $6 billion at the moment. However, the opportunities for organic growth (pun intended), as well as expansion via new state approvals, could push the legal market size to an estimated $50 billion by 2026. This would imply a greater-than-23% compound annual growth rate for the next decade.
- 191,599 Views Category: Odd
- 150,680 Views Category: Fun
- 140,338 Views Category: Culture
- 101,524 Views Category: Culture
- 100,180 Views Category: Culture
- 99,703 Views Category: Fun
- 80,354 Views Category: Culture
- 78,555 Views Category: Odd
- 70,424 Views Category: Fun
- 63,731 Views Category: Fun