By Howard Fischer | Capitol Media Services via Arizona Daily Star
While consumer spending could increase, more competition could tamp down the price of marijuana.
The amount of money spent on medical marijuana in the next four years will nearly double according to a new study — assuming the Trump administration doesn’t step in.
Projections by New Frontier Data and ArcView Market Research peg retail sales this year at $367 million. But by 2020 the report figures they should reach the $681 million range.
What makes that spending increase even more remarkable is that the report’s authors say the price of medical marijuana is likely to drop sharply during the next few years. Put another way, each dollar spent will buy more pot.
