Sales of legal marijuana jumped 17 percent to reach $5.4 billion last year, according to a new report. Sales could grow 25 percent this year, to $6.7 billion, according to the marijuana industry investment and research firm ArcView Market Research.
By 2020, sales of legal marijuana could reach $21.8 billion, Fortune reports. “I think that we are going to see in 2016 this next wave of investors, the next wave of business operators, and people who’ve sort of been watching or dipping their toe in, really starting to swing for the fences and take it really seriously,” ArcView CEO Troy Dayton said.
The report includes medical and recreational dispensary sales, as well as cannabis products sold through delivery services and medical marijuana “caregivers” who can legally grow and distribute the drug.