U.S. Cannabis Sales Are Predicted To Hit $17B Annually By 2021

If the federal government doesn’t interfere, the cannabis industry will continue to grow and flourish, which could see sales reaching an estimated $17 billion.

Big sales

U.S. Marijuana Sales 1 U.S. Cannabis Sales Are Predicted To Hit $17B Annually By 2021
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According to the Marijuana Business Daily, this year, the retail sales of both medical and recreational cannabis in the United States are expected to hit between $5 billion and $6 billion.
But it might get as high as $17 billion by 2021, thanks to the rapid growth of the recreational market, legalization in more states and further development in existing medical marijuana programs, which will no doubt spur much of that growth.
Although, it that is depended on the federal government not disrupting the growth of the green industry.
The marijuana industry is primed and pumped for explosive growth in the foreseeable future, provided there isn’t a significant crackdown at the federal level.
The business opportunities that will emerge in the coming years are tremendous for both existing marijuana companies and new ones that start up. – Chris Walsh, Marijuana Business Daily
For this year, sales are expected to grow by roughly a third over the previous year, which had an estimated $4 billion to $4.5 billion in annual sales. It was also the first year that recreational has possibly surpassed medical for the first time, too.
The recreational shops are expected to generate $2.6 billion to $2.9 billion in sales, versus $2.5 billion to $3.2 billion on the medical side. The recreational market will strongly benefit from Nevada’s launch of early sales in July, the continued strong growth in Colorado, Oregon and Washington state, as well as the momentum in Alaska’s market.

The future is bright

U.S. Marijuana Sales 2 U.S. Cannabis Sales Are Predicted To Hit $17B Annually By 2021
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But, best of all, the longer-term projections are even better.

When the 11 states that passed marijuana-related measures come online, the cannabis industry will get a major boost in the coming years, which could generate more than $7 billion a year by 2021 – and possibly much more if they gain steam quickly – in those markets alone.
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