Report: Nevada Marijuana Sales Poised for Massive Growth

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Report: Nevada Marijuana Sales Poised for Massive Growth

Pixabay / CC0 Public Domain / jarp

A new report estimates that if Nevada legalizes adult use in November, the adult use market will experience massive growth from 2016 to 2020.

 

The 2016 Nevada Legal Cannabis Market State Profile, released on July 5, 2016, by ArcView Market Research in partnership with New Frontier, estimates adult use will jump from $121.6 million in 2016 to $630 million in 2020, a 51% compound annual growth rate.

“Nevada is just the beginning of the significant opportunities for investors and entrepreneurs that lay ahead in the sector, especially given its top tourist destination rank,” said Troy Dayton, CEO of The Arcview Group.

“If Nevada legalizes adult use cannabis, we will witness an unprecedented socio-economic impact in a state already shaped and fueled by tourism and entertainment,” said Giadha DeCarcer, Founder and CEO of New Frontier.

The staff byline designates content that has been written by a staff writer of MJINews.

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