Cannabis legalization, aka the Green Rush, is sweeping the nation. The billion-dollar cannabis industry is pulling in more money on an annual basis than any of the analytical statistics or individuals who have extensive years of college behind them can anticipate or predict. Washington State, Oregon, Alaska, Colorado and Washington DC have laws in place allowing for both medical and recreational cannabis consumption. With these states having legalized marijuana in place, they are setting the mark for what cannabis has to offer.
The Cannabis industry brought in more than 5.7 billion dollars in 2015. This is not taking into account the endless amount of ancillary Services surrounding the Cannabis industry or catering to the Cannabis community. Currently 23 States throughout the United States as well as the District of Columbia have some form of legal marijuana in place, whether medical or recreational. According to the ArcView group who recently released a market research study, the cannabis industry is predicted to reach 23 billion dollars by 2020.
THE STATS ARE IN AND THEY ARE CONFUSING
For example, Oregon was projected to bring in about three million dollars total on marijuana sales. In fact, those statistics were way off. Oregon actually brought in 3.5 million dollars in one month. This adds up to over 36 million dollars a year at this rate which is 12 times the total anticipated amount of what statistical analyst had predicted. Take for example Colorado. It is estimated that Colorado sold more than a total of 88 million dollars of marijuana and related accessories alone in just the first month of 2016. At that rate, Colorado would be estimated to bring in more than 1.56 billion dollars in cannabis sales.
The cannabis industry is a blooming industry that is compared to the dot-com era or the gold rush. Entrepreneurs who follow by strict guidelines dancing on a grey bridge stand to be the future millionaires off tomorrow. Many of the individuals associated with the cannabis culture are not just looking for material wealth. They’re also seeking to better the world around them. Creating a greener future for tomorrow so that generations to come will have a chance to love all that is earth is the goal of many ganjaprenuers.
North America has more than 529 million people in its population. Cannabis support is at an all-time high, coming in at an estimated 60 percent or better in North America. For the industry, the future looks like a green one. Let’s say for the sake of argument that half of the population smokes marijuana. If that were true, there would be a solid 250 million cannabis consumers out there. Take 250 million cannabis users and let us say they purchase a quarter bag or 7 grams of herb a week. That’s 30 dollars each per week on average. That would come up to 7.5 billion dollars weekly. Take 7.5 billion dollars’ times 52 weeks in a year and the number I came up with was 390 billion dollars.
PERHAPS THEY USED COMMON CORE MATH
I’m not sure what type of math they teach in college, but apparently it’s different than mine. I used an old fashioned calculator to come up with these numbers. The United States of America has more than 316 million people living in it alone. If you were to take a hundred and fifty million people there and do that same math, you would have 4.5 billion dollars a week in cannabis sales. Times that by 52 and that number jumps up to 234 billion dollars in the United States of America alone. That is assuming that everybody who smokes pot spends $30 a week on average.
THE GREEN FUTURE OF TOMORROW IS STILL A GREY ONE TODAY
Marijuana legalization and the amount of money it will bring in are bound to change and fluctuate. With more states allowing for cannabis reform laws to take place, it will affect the sales in other states. As a great example, recreational cannabis stores in southeastern Colorado are in fear of losing their jobs if Texas were to legalize marijuana. That is why for the sake of argument I looked at the cannabis culture and community as a whole. The numbers that are being tossed around are made to impress certain people. The same type of people that would vote for CBD-only laws.
But cannabis legalization should be about more than a dollar sign. It should be about healing the people and the planet. The sad truth is that is not the case. This billion-dollar industry has already gained the attention of corporate sectors such as the pharmaceutical industry, aka Big Pharma. Big Pharma makes billions of dollars a year peddling what is arguably poison. That’s not accounting for all the outrageous medical fees charged by doctors and hospitals. The world needs cannabis. From the healing powers of pot to the endless applications of hemp, cannabis can help save the planet.
Article from: http://sprout.news/business/canna-billions-to-be-made/