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California is world’s biggest legal pot market, says new report

Posted by   /  August 15, 2019  /  No Comments

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Its many regulatory problems aside, California is still the world’s largest legal cannabis market, says new report. Image: Sheet of marijuana on background of money close-up. /Getty

By Iris Dorbian | Forbes

Regulatory issues notwithstanding, California’s legal cannabis market is currently on track to becoming the world’s largest market, according to a new report issued by leading industry researchers Arcview and BDS Analytics. For 2019, the state is projected to grow 23 % in sales, racking up $3.1 billion.

Said Arcview CEO Troy Dayton: “Despite the burdens imposed on the legal market by regulators, with a $2.7 billion gross domestic product, California has the world’s largest legal cannabis market and will continue to be until federal legalization makes it merely a part of the larger U.S. market. At that point, California will assume its usual place in the world economy as a major exporter of agricultural commodities and their derivative products, a technology mecca, and consumer product trendsetter.”

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  • Published: 2 months ago on August 15, 2019
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  • Last Modified: August 15, 2019 @ 5:07 pm
  • Filed Under: Cannabis and Hemp

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