By Sean Williams
The marijuana industry is growing by leaps and bounds in North America. Cannabis research firm ArcView, in partnership with BDS Analytics, found that legal pot sales soared 33% in 2017 to $9.7 billion. A decade from now, ArcView sees North American sales topping an estimated $47 billion.
This impressive growth is due to a combination of state- and country-level expansion, as well as a general shift in the way people perceive cannabis.
Regarding the former, Mexico legalized medical marijuana in June 2017, 29 U.S. states have legalized cannabis in some capacity since 1996, and Canada appears to be on the verge of passing the Cannabis Act, which would make it the first developed country in the world to have legalized adult-use marijuana. As expansion continues, sales for growers and ancillary pot industry businesses are expected to soar.
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