Grow Rate Matches Cable TV in the 1990s and Broadband Internet in the 2000s
New Report Marks First Time Canada Included
Arcview Market Research, publisher of cannabis market research, on Tuesday released a new 2016 North American cannabis market size estimate as well as projections for the market through 2021.
This is the first time Canada is included in Arcview’s annual market estimates and projections, thus referring to it as a North American number.
“No estimation of the size of the legal cannabis industry is complete without recognizing the new massive role Canada’s market will play as it moves toward legalizing adult use,“ said Tom Adams, Arcview Market Research’s new editor-in-chief. “The only consumer industry categories I’ve seen reach $5 billion in annual spending and then post anything like 25 percent compound annual growth in the next five years are cable television (19 percent) in the 1990s and the broadband internet (29 percent) in the 2000s.”
“The biggest game changer for the future are the four new states that approved adult-use measures; 21 percent of the total US population now live in legal adult-use markets,” said Adams. “Spending in the largest three adult-use markets (CO, WA and OR) was up 62 percent through September after doubling in 2015, fueled in large part by the sudden popularity of alternative ingestion methods such as edibles and concentrates.”
“You will not find another multi-billion-dollar market growing at 25 percent anywhere in the world that is not already filled with multi-national companies and institutional investors,” said Troy Dayton, CEO of Arcview. “That’s part of what makes the cannabis industry such a unique opportunity for investors and entrepreneurs.”
5th Edition Marijuana Markets Report Soon Available
Arcview released the estimate while announcing the availability of pre-sales of its 5th edition of the State of Legal Marijuana Markets Report. The executive summary of this groundbreaking report will be released on January 16 at Arcview’s private Investor Forum in L.A. The full 200+ page report will be released in February.
This first of its kind report finds that regulated marijuana sales in North America totaled $6.7 billion in 2016, a 30 percent increase from 2015. Sales are projected to grow at a compound annual growth rate of 25 percent, from $6.7 billion in 2016 to an estimated $20.2 billion by 2021.
The new and revised market projections rely on a new proprietary bottom-up point of sale foundation. The data includes millions of individual consumer transactions from dispensary partners in the largest legal cannabis markets across the country created by BDS Analytics.
This 5th Edition report published by Arcview Market Research in partnership with BDS provides actionable intelligence on the following critical market areas:
• National and state-level market sizing
• Market growth projections
• Legal and regulatory frameworks
• Product and industry trends
• Investment assessments and financial analysis
Arcview’s upcoming Investor Forum for high net worth accredited investors will take place January 16-18 in Los Angeles. For more information on the event and Arcview Investor Network, click here.