Legal Marijuana Is The Fastest-Growing Industry In The U.S.: Report
Published on Feb 27, 2015
It doesn't take much to notice how popular legal marijuana has become in just a few years, but you may underestimate exactly how much its grown! From 2013 to 2014 the market grew a whopping 74% going from $1.5 billion all the way up to $2.7 billion. With just less than half the states having medical marijuana, and only 3 states with recreational marijuana programs (Oregon joins the list as #4 in July) the potentional for economic growth and THC relief is seemingly endless.
The huge growth potential of the industry appears to be limited only by the possibility of states rejecting the loosening of their drug laws. The report projects a marijuana industry that could be more valuable than the entire organic food industry -- that is, if the legalization trend continues to the point that all 50 states legalize recreational marijuana. The total market value of all states legalizing marijuana would top $36.8 billion -- more than $3 billion larger than the organic food industry.