New Frontier Data, a cannabis industry analyst and market research firm, recently released growth and sales data from this booming U.S. industry…and it’s just as we expected: Marijuana sales are on the rise.
By on the rise, we mean more than $24 billion by 2025. In. Marijuana. Sales.
Not only are sales on the up and up, in this equation more sales equals more jobs. New Frontier anticipates the marijuana industry creating more than 255,000 jobs by 2019. Hopefully, this is enough reason for the Feds to leave us alone.
In the 2017 cannabis annual report, New Frontier projects a 25 perfect annual growth rate in the recreational space alone. Medical sales are supposed to keep rising over the next 8 years, as well.
With these predictions are estimates that California will bring in more than $6 billion alone by 2025. Runners up include medical-only Florida at $2.5 billion, Washington state at $2.14 billion, and the great state of Colorado rolling up (pun intended) fourth with close to $2 billion in cannabis sales.
While New Frontier has invested extensive resources into compiling this data, they are aware of the volatile environment surrounding the industry, including federal impositions.
Read More: The Cannabist