Data Reveals Optimism Regarding Legal Cannabis Sales

NEW YORK: According to a report by New Frontier Data, medical cannabis sales in 2017 are forecast to grow to $5.3 billion, which represents 67% of total cannabis sales. The report estimates that by 2025, medical sales in current legal states are forecast to grow to $13.2 billion, which will account for 55% of total cannabis sales. Adult use sales in 2017 are forecast to reach $2.6 billion, or rising to $10.9 billion by 2025. New Frontier also points out that cannabis sales in the state of California alone are projected to reach $2.8 billion in 2017 and $6.6 billion by 2025, with a compound annual growth rate of 12% over the next eight years.

A survey conducted by Marijuana Business Daily reveals that over 40% of cannabis business owners are planning to take their companies into a new market within the next year. According to the survey business owners intending to expand their operations as, “the vast majority have identified opportunities in both the medical and recreational markets. With sales continuing to grow rapidly in mature recreational cannabis industries like Colorado and Washington state – and promising new medical markets such as MarylandOhio and Pennsylvania set to come online in the near future – it’s perhaps not surprising that many entrepreneurs are looking to expand into both medical and adult-use markets.”

 

Oregon Cannabis Jobs Report

OREGON: The goal of the Oregon Cannabis Jobs Report is simple: To establish a foundation for future research on how many jobs are being created within the cannabis industry to date.

As new Cannabis economies come online across the United States and around the world, it is imperative that we track the growth of this industry as it creates jobs and economic opportunities for individuals, communities, and businesses alike.

As we march into the 2016 election, everyone is talking about jobs. We believe it is important that the cannabis industry start to inform the general public and those running for elected office on exactly how many jobs are being created within the Oregon retail cannabis sector today. This data is the first of its kind in the nation. Our researchers took painstaking care to ensure that our methodology will not only withstand scientific rigor, but will also establish a legitimate baseline for further research into other sectors of the cannabis market.

Download the Oregon Jobs Report here