According to Arcview Market Research, the sales of legal cannabis in North America are growing even faster than expects have forecast it would.
The company has a new report that says retail marijuana sales will climb 33% compared to 2016’s levels and will hit $10 billion in 2018.
The fact that Canada is gearing up to launch recreational sales of the drug next summer and Nevada has plans for cannabis tourism, as well as California to start selling the drug recreationally in January, sales could grow a lot faster.
BDS Analytics’ GreenEdge point-of-sale tracking service has already forecast that California’s medical marijuana market is already as big as the total markets in Colorado, Washington, and Oregon combined.
“Aside from cryptocurrency, there is simply no other industry changing as rapidly or as unevenly as the cannabis sector,” explained Troy Dayton, the CEO of The Arcview Group.