The Growth and Future of the Booming Marijuana Industry

2017-07-25

Press Release – updated: Jul 25, 2017 08:00 EDT

The legal marijuana market was valued at $7.2 billion in 2016 and projections expect it to grow 17 percent annually, according to OnPointStockAlert.com. Medical marijuana sales are estimated to increase from $4.7 billion in 2016 to $13.3 billion in 2020. Recreational sales in states where it is legal for adults 21+ are estimated to grow from $2.6 billion last year to $11.2 billion by 2020.

With this kind of growth in a strongly developing industry, more jobs are expected to open to potentially lower the unemployment rate. Currently, 25 states have some form of legalized medical marijuana and seven states that have legalized recreational marijuana that are still in the works of working out the rules and regulations.

More and more marijuana warehouses and facilities are opening not only in North America but all around the globe. The potential for this industry is impressive. Mostly all marijuana stocks have seen a jump in price by more than 75% since the start of 2017.

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Source: OnPointStockAlert

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