Cannabis Market Potential Bigger Than Cable

ArcView Market Research projects the compounded annual growth rate, CAGR, of the green rush will be faster than cable TV in the 1990s. The firm forecasts the North American cannabis market will go from $6.7 billion in 2016 to $22.6 billion in 2021 -- an eye-popping CAGR of 27%.

“Very few consumer industry categories reach $5 billion in annual spending and then post anything like 25% compound annual growth across the following five years,” Arcview wrote in a report. “Cable television came close, growing 19% annually in the late 1980s as national networks like CNN and HBO proved to be wildly popular.

“Broadband internet subscription spending grew 29% per annum in the early 2000s as it became almost as much of a ‘must have’ utility as electricity or television for the modern home.”

The global medical marijuana market is projected to reach $55.8 billion by 2025 , according to Markets and Research.

Comments