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Weed Industry Worth $20bn by 2020

Other | Wednesday 3rd February 2016 | Tom

A cloud of weed smoke is slowly drifting over the U.S, and as consumption grows so does the industry.

 

In the last 12 months, the U.S cannabis industry was worth $5.4bn, up from the year before by $800m, a surprisingly large amount considering only four states have fully legalized the ‘erb, however, it is legal in 23 other states for medicinal use.

 

A report carried out by cannabis analytics firm ‘New Frontier and Arcview Market Research’ claimed that the sale of recreational marijuana had gone up 184% on last year. With this increase and the expected legalization of weed in other U.S states, the industry is expected to be worth a whopping $20bn by 2020.

 

Here are some other things worth $20bn:

The entire GDP of Cyprus or Afghanistan.

The amount Israel spends on it’s military each year.

Arsenal F.C x 20.


 

These figures are only indicative of how much the legal weed market is worth, the illegal market is expected to be worth much much more.

 

 

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