Indopedia All Things Marijuana
Although the cannabis industry is weathering through some tough times with the current administration in the U.S., the election last November made it clear that this moment and industry is only going one way with the public: forward. This was pronounced even further by a recent study done by Marijuana Business Daily, where it was discovered that, if the U.S. government legalized marijuana federally, legal marijuana sales could be even bigger than ice cream!
As reported by Forbes:
Annual ice cream sales are only $5.1 billion. Total recreational cannabis sales in the U.S. at this estimate would also top movie ticket sales ($11.1 billion) and snacks like Doritos, Cheetos and Funyuns ($4.9 billion.) The report says, “If the federal government legalized marijuana nationwide, sales might start out at around that level but would likely quickly rise as cannabis gained mainstream acceptance and the market evolved.” At that rate, it wouldn’t take long to eclipse cigarette sales and even potentially beer sales.
As it is, legal recreational and medical cannabis sales in 2016 were $4.0-$4.5 billion. This beats paid music streaming services at $2.5 billion and girl scout…
