Study: Legal Cannabis Industry To Generate $10 Billion Revenue By Year’s End

Study: Legal Cannabis Industry To Generate $10 Billion Revenue By Year's End

Pawtucket, RI: Sales involving legal marijuana products and marijuana-related services are estimated to total $10 billion by year’s end, according to a report issued by the publication Marijuana Business Daily. Authors based their findings on survey data provided by 1,000 business owners and their financial backers.

According to the report, sales of cannabis and/or cannabis-infused products are expected to total some $3.1 billion by year’s end. Another $6.9 billion in revenue is estimated to come from ancillary businesses and product sales.

The report’s authors estimate that revenue specific to the legal cannabis industry could be as much as $29 billion annually by 2019.

The report identifies between 46,000 and 60,000 people legally employed in enterprises involving the production or retail sale of marijuana. This total is significantly higher if ancillary products and services companies are included.

For more information, please contact Allen St. Pierre, NORML Executive Director, at (202) 483-5500 or Paul Armentano, NORML Deputy Director, at: paul@norml.org.