4 Reasons Canada’s Marijuana Industry Is Running Circles Around the U.S. Pot Industry
ALDgreen has strong roots in Canada as well as the U.S. so we found this article particularly interesting…give it a read!
Truth be told, there aren’t many industries in North America growing as quickly, or consistently, as legal marijuana. ArcView, one of the leading authorities in cannabis industry analysis, has estimated that legal weed sales in North America could grow by 26% per year through 2021. If this prediction comes true, the North American pot industry would be worth close to $22 billion by 2021, up from $6.9 billion in 2016. Growth like this makes it tough for investors to turn away, which is a big reason why marijuana stocks have doubled or tripled in value over the past year.
This sales growth is a result of two factors. First, we have ongoing expansion throughout North America, including the legalization of medical cannabis in Mexico this past June, the green light for recreational sales in eight U.S. states since Nov. 2012, and the expected passage of legislation designed to legalize adult-use weed sales in Canada by July 1, 2018.
Secondly, we’re witnessing a definitive shift in the way the public views pot. What was once a taboo topic discussed by few people, is now something even politicians are discussing on the campaign trial. National pollster Gallup found that almost two-thirds of polled Americans in October 2017 favored the idea of legalizing marijuana across the country, up from just 25% back in 1995.