Marijuana sales soar
Arcview Market Research has announced the availability of its 5th edition of the "State of Legal Marijuana Markets Report," out later this month. We'll post some of the results here. Until then, here's an inspiring stat: regulated marijuana sales in North America totaled $6.7 billion in 2016, a 30 percent increase from 2015. Sales are projected to grow at a compound annual growth rate of 25 percent, from $6.7 billion in 2016 to an estimated $20.2 billion by 2021.
Here comes Washington
New Frontier Data and Arcview Market Research released its Washington Legal Cannabis Market State Profile , which explores the recent significant changes to the state's cannabis industry. The elimination of the medical system that was operating in parallel to the adult use market will lead to a significant contraction of the state's medical market, making the adult use market the primary driver of the $2.4 billion in cannabis sales projected by 2020. "The Washington market is maturing, but it has a long way to go to reach saturation. It will practically double by 2020. People really like cannabis and the regulated market is beating the underground market, as predicted," said Troy Dayton, CEO of The Arcview Group.
Apps and maps
Cannabis.net released its long-awaited cannabis app in the Google Play store. The Cannabis.net app is the first app in the legal marijuana market to combine full mapping services for dispensaries, doctors, lawyers, cannabusinesses, and head shops with a full social network and blogging platform. "We are the first company to put all three elements together in one app. We have a full international blogging platform, a full mapping service based on where you are with your phone, and a full 'Facebook of Weed' for cannabis fans," says Cannabis.net CEO, Curt Dalton. Go here to download. Look for the iOS version soon.
Meet us at Seed to Sale in Denver!
Higher Ground is participating at this year's Seed to Sale Show in Denver. I'll be appearing on the NCIA's Advertising & Marketing Committee Roundtable, January 31, 11:30 am - 12:15 pm. There's also a Q&A session for all attendees. Bring your questions and ideas - leave with answers and action items. This session will be an open dialogue and a great opportunity to make your voice heard! If you want to meet up before or after email me. Or just come up and introduce yourself.