U.S. consumers will spend somewhere between $5 billion and $6 billion on legal marijuana in 2017, according to a new report released this month. By 2021, that number could reach a staggering $17 billion.
The numbers come courtesy of the Marijuana Business Factbook 2017, issued in May by editorial and research staff at Marijuana Business Daily. The report is based on an online survey of more than 800 people working in the cannabis business and, if anything, is shaded toward the conservative side.
“It’s important to note that we are somewhat conservative with our estimates and projections, both for the existing industry and its potential growth going forward,” the reports executive summary states. “We strive to provide realistic numbers, not make the industry appear bigger than it really is.”
Almost As Popular as Frozen Pizza
The report, which also used information on retail transactions and wholesale cannabis pricing from Headset and Cannabis Benchmarks, offered a variety of interesting facts about marijuana sales.
For example, the…