The legal marijuana industry is budding before our eyes. What had once been considered a taboo industry that was swept under the rug by lawmakers has now become a front-and-center issue, as well as a big-time moneymaker for investors and companies involves in the pot industry.
According to the team of Arcview Market Research and BDS Analytics, worldwide licensed-store cannabis sales totaled $3.4 billion in 2014. Just four years later, they more than tripled to $10.9 billion. By the time 2024 rolls around, they may nearly quadruple once more, with the 2019 State of the Legal Cannabis Markets report calling for $40.6 billion in global licensed-store sales. And, mind you, this figure doesn't include cannabinoid-based pharmaceutical sales or cannabinoid-based products sold by general retail stores.