The Surprising Growth of the Marijuana Industry
Since the legalization of marijuana in some areas in the US, the industry is getting more and more popular. It doesn’t even show any sign of slowing down in the near future despite the recession that America is experiencing right now. It has been the fastest growing industry in the US according to the ArcView Group, a cannabis research and investment company that is based in Oakland, California.
According to the said group, there will be an outbreak of states that will consider legalizing hemp in their area. There is no doubt that in the next two years, Mary Jane will be legal in the whole country.
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The Prediction in the Skunk Industry
Apart from the mentioned prediction regarding the hemp industry, there is another prediction about the list of millionaire and billionaire in the coming year. They also predict that new millionaire and billionaire will arise, thanks to the weed industry.
Since recreational and medical herb will become legal in this country, more and more people will start to manufacture and distribute these popular grass to their consumers. There will also come a time that no one will be put in jail once the pot has been legalized in the whole nation. To prove that these predictions are accurate, this article will explain to you how fast the industry grows.
The Number of States Where Marijuana Is Legal
The current number of states where hemp is legal is 17. But in 2016, two new states will be added to the list. And in the coming years, other states which are still not decided whether to legalize the plant or not will also be on the same list, especially if the forthcoming President of the United States supports this action.
California Has the Biggest Mary Jane Market
Among all states, California has the most influential hemp market in the country, followed by Colorado. But if recreational MJs will also be legalized, there is a huge chance that the sales will increase as it is today.
The Growth in Medium Sized Markets
Not only will the big cannabinoid distributors benefit from the legalization of marijuana, but medium-sized markets as well. Since it will be legal to sell medical and recreational skunks, they don’t need to offer them to their sellers under the government’s nose. And, as a result, their sales will also increase from up to $60 or even more.
The Sale of the 420 Industry in General
The increase in sales will never stop. It has been predicted that in 2016, the sale will increase from up to 65% in the US, alone. But since more and more manufacturers are selling this grass, the competition will get tougher. It is now up to their marketing team on how they will convince the consumers to buy stinkweed from them.
With these explanations, there is no doubt that the predictions of the ArcView Group will happen in the coming years. There is also a bigger chance that other countries will follow the bandwagon if the whole states in America will legalize the said herb.