According to the report, the $5.4 billion represents an $800 million increase from 2014, when total sales of legal cannabis reached $4.6 million.
“Many in the business and financial sector have taken a ‘wait and see’ approach to the legal cannabis industry”, says ArcView Group CEO Troy Dayton. “The new data confirms what pioneer investors and entrepreneurs suspected. Legalization of cannabis is one of greatest business opportunities of our time and it’s still early enough to see huge growth”.
The sales total includes sales of both medical and recreational cannabis, with recreational sales increasing 184% from 2014 to 2015 ($351 million to $998 million).
You can find a free executive summary of ArcView’s report by clicking here.