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.”
