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Marijuana Industry Impact Projected To Grow To 44 Billion By 2020

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The marijuana industry is full of eye catching numbers. One that caught a lot of headlines today was the figure of 44 billion dollars, which is what Marijuana Business Daily projects the marijuana industry impact to be by the year 2020. That’s an enormous number, but considering what Colorado was able to do in just January 2016 alone, and that’s just one state. That number is extremely achievable if some political victories are achieved.

There are a number of states that are in the process of implementing marijuana reforms, and even more that are potentially legalizing medical or recreational marijuana. A lot can happen between now and 2020, especially this year because of the election. In order for the industry impact to grow to tens of billions of dollars there would need to obviously be some victories, but I’m very confident that will happen. That’s in addition to growth in states like Colorado and Washington that are continuing to grow. Below is a chart released by Marijuana Business Daily showing their projected growth:

marijuana industry projections

These projections are part of the yearly publication that MJ Biz Daily puts out, the Marijuana Business FactbookI have copies from years past, and there is an enormous amount of information in there. I absolutely value math, much more than any narrative. This publication is always full of the most valuable math an entrepreneur (or curious cannabis industry nerd) could ever ask for. If you own a dispensary, or want to get your product out there, or want to see what the trends are, I suggest you pick up this book.

There will be a lot of growth in the upcoming years, but the industry is also still under attack, which is something that people need to remember. The recent raids in Michigan are proof of that. If you are in the industry, remember to keep fighting for reform. It’s fine to have business ambitions, but always remember that the fight is far from over, so if we are to truly see the industry reach it’s full potential, first we have to fight for reform. Remember when you are considering profit potential to also remember that there are people sitting in jails cells across America because of prohibition.

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  • Been around

    I wish that Bernie Sanders played on those military raids and at least made mention of the travesties against ethical- and morally-based individuals who are being corralled up like cattle.
    BERNIE NEEDS TO CHANGE THE FEDERAL STAND ON THIS ISSUE. There is not another candidate on EITHER “side” that is a true proponent of LEGALIZATION.

    Vote for BERNIE —- vote for this military action CONDONED BY THE FEDERAL GOVERNMENT to stop and lets start treating people that are a threat to absolutely nothing or no one with respect and understanding.

    Our Federal government and the State of Michigan couldn’t care less about all of the individuals who were directly or indirectly affected by Nazi-style operations.
    IF nothing else, what about all of the patients that frequented these outlets for their medication ???

    Now —- tell me —- does our “government” REALLY care about us ? The answer is “no” because the Establishment is still in CONTROL. Bernie is the ONLY individual standing up there that wants the People to have more control of their individual and personal lives.
    It’s just too bad that the Establishment is so powerful.

    IF ANY other candidate tried to run a campaign on the strings that Bernie has, they would have fallen to the wayside a long, long time ago. And that just goes to show that the tide is turning.

    Both wings of this bird are crooked. We need representatives that are BEHOLDEN TO NO ONE other than the (legal) citizens of this country.

    Peace.

    • Unfortunately Bernie will probably do the same as Trudeau in Canada, shortly after the potheads voted for him to change things he threw his hands up and said “they won’t let me” and dropped legalization.

      Very convenient for politicians to say anything for the votes. Every politician lies their asses off just to get elected.

      Question: Has ANY other politician ever done what they said they would do on the campaign trail.

      No.

      We should expect this to be the same. Bernie is just pandering the pothead vote but will do nothing for legalization after in. “They won’t let him”. After all, it will be the same “they” as Trudeau had to face. And no, the UN will not let Bernie legalize either.

      One guy against the mass of haters on the hill, nothing will get done.

      Come on people, how long are we going to believe ANY politician, they have proven themselves liars time and time again.

      • saynotohypocrisy

        Ya wanna make a bet on whether Trudeau legalizes?

  • jason

    wonder how this chart will look if we end up with a Christie AG under Donald Trump…I wonder if the people in the industry now would have the will to revolt and in a major way…

    because don’t kid yourselves..if Christie ends up being AG…he’s going to try to shut it all down…mark my words..