Marijuana, both medical and recreational is becoming one of the biggest emerging markets in the world. Last year, legal U.S. marijuana sales reached $5.4 billion. A 17.4 percent increase from the previous year of $4.6 billion. ArcView Group estimates that 2016 sales could reach $6.7 billion.
Sales can be attributed to the tremendous growth in consumer sales as some states have legalized recreational marijuana use. With the growth of cannabis sales, new innovative marijuana products are hitting the market. Vaporizers, edibles, and capsules are making a big impact on the market. Additionally, more parallel to the marijuana industry are opening including insurance, security, and e-commerce.
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