“A watershed 4/20.” U.S. cannabis market poised to hit $25B by 2025: report

The U.S. legal cannabis industry is on track to hit $ 25 billion by 2025, according to the latest forecast from cannabis analytics firm New Frontier Data.

The research and data firm on Friday released revised industry sales projections, predicting that the $ 8.3 billion U.S. medical and recreational marijuana industry will grow at a compound annual growth rate of 14.7 percent, to an estimated $ 25 billion by 2025.

That $ 25 billion should be split equally between medical and recreational cannabis, New Frontier officials said.

Medical marijuana sales are expected to grow from $ 5.1 billion at a compound annual growth rate of 11.8 percent. Recreational sales should see accelerated growth, increasing from $ 3.2 billion at a compound annual growth rate of 18.4 percent.

“With a number of states expected to advance cannabis legalization measures in the next 24 months, more Americans will be able to access legal cannabis in the years to come, making this a watershed 4/20,” Giadha Aguirre De Carcer, New Frontier Data’s chief executive officer said in a statement.

Full details of the projections were not initially available. The data released Friday are part of New Frontier’s 2018 industry outlook report, scheduled to be released in May.

The Cannabist



“A watershed 4/20.” U.S. cannabis market poised to hit $25B by 2025: report
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