Oakland, CA: Cannabis consumers spent over $53 billion on marijuana-related purchases in 2016, according to a report released this week by Arcview Market Research. The total includes sales of cannabis in both legal and illegal markets.
In jurisdictions where marijuana is legally regulated, sales totaled an estimated $6.9 billion in 2016 – a 34 percent increase over 2015 totals. Authors estimate that legal sales will total nearly $22 billion nationwide by the year 2021.
The report also finds that an increasing number of consumers are gravitating toward non-traditional forms of cannabis, such as concentrates, which have enjoyed increased market share over the past three years.
An executive summary of the report, ‘The State of Legal Marijuana Markets – 5th Edition,’ is available online.
For more information, please contact Erik Altieri, NORML Executive Director, or Justin Strekal, NORML Political Director, at (202) 483-5500.