In general, the marijuana industry in North America is expected to grow 68% in 2014 and over 700% by 2018. The illegal marijuana market is estimated at USD 30 Billion and the US and Canadian governments are now starting to consider the substantial tax revenues which could be captured from legal sales.
- 20 States with favorable marijuana laws.
- Current size of market estimated $2 Billion
- 50 states will have favorable marijuana laws by 2018;
- Estimated size of market of $19 Billion by 2018.
- Two states have passed laws supporting sale of recreational marijuana.
- Federal laws approving production and sale of medical marijuana in effect across Canada
- Reforms to decriminalize recreational marijuana across Canada now in Parliament;
- Current market size $600 Million;
- Expected market of $2 Billion by 2018