OAKLAND, Calif., Jan. 26, 2015 (GLOBE NEWSWIRE) -- ArcView Market Research released the executive summary to the 3rd edition of the State of Legal Marijuana Markets report finding that the U.S. market for legal cannabis grew 74% in 2014 to 2.7 billion, up from 1.5 billion in 2013 making it the fastest growing industry in the U.S. The report also shows that if trends continues and all states legalized marijuana the total market size would top 36.8 billion, making it larger than the organic food industry which is 33.1 billion according to Nutrition Business Journal.
The report shows that the main driver of projected growth over the next five years will be the passage of more state laws allowing regulated cannabis sales. The report predicts that 14 more states will legalize adult use and two more states will legalize medical use over the next 5 years. These new markets plus maturation of the existing markets will create a 10.8 billion annual market potential by 2019.
The State of Legal Marijuana Markets 3rd Edition is the most comprehensive and sophisticated analysis of legal markets ever undertaken. The first two editions of this report are the most oft-cited reports on the industry.
Other findings of the report include:
Data Highlights from the Report:
Trend Highlights from the Report:
"The Legal Marijuana Markets report shows cannabis is the fastest growing industry in the U.S.", said Troy Dayton, CEO of the ArcView Group, the publisher of the report. "Entrepreneurs and private investors are flocking to these markets. While there is a lot of hype around the marijuana industry, our report provides hard data and in-depth analysis for sophisticated players looking to capitalize on the seismic shifts occurring in the regulatory environment."
"I've studied the growth of the nutrition and the organic food industries for years. I believe the cannabis industry will be an even bigger opportunity. Yet, there are risks associated with a fragmented and nascent industry that is growing so fast. Those with insider analysis and actionable data will be best positioned to mitigate those risks and maximize returns. That's what we've distilled in this report." said Patrick Rea, former editor of the Nutrition Business Journal and Executive Editor of the report.
The executive summary of the report is downloadable for free at legalmarijuanamarkets.com and the full report can be pre-ordered for $495 and will be available in a few weeks. The report's sponsors include cannabis industry leaders The National Cannabis Industry Association, Cannasure Insurance Services, Canna Advisors, Denver Relief Consulting, and CanopyBoulder.
ABOUT THE ARCVIEW GROUP
The ArcView Group is an investment and research firm based in Oakland, California founded by cannabis industry and advocacy pioneers Troy Dayton and Steve DeAngelo. In edition to ArcView Market Research which is the first and most oft-cited market report on the cannabis industry, The ArcView Group is responsible for a number of cannabis industry innovations including the ArcView Investor Network which is responsible for more than $20 million in investments into more than 40 companies, Cannasure Insurance Services which is the first business insurance provider built for the cannabis industry, and CanopyBoulder, the first seed-stage mentorship driven business accelerator set to launch this year.
A photo accompanying this release is available at: http://www.globenewswire.com/newsroom/prs/?pkgid=30290
Gaynell Rogers 415-298-1114