Retail sales of medical and recreational marijuana in the United States are expected to reach $5 billion to $6 billion this year and surge to as high as $17 billion by 2021, according to new projections from Marijuana Business Daily.
Last year, sales of medical and recreational marijuana reached an estimated $4 billion to $4.5 billion — up about 30 percent from the previous year — and are expected to grow by about 33 percent this year, compared to 2016, according to the trade publication’s 2017 Marijuana Business Factbook.
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The legalization of marijuana in new states, including Ohio — where the state’s medical marijuana program expected to be up and running by late 2018 — is expected to spur much of the future sales growth.
But even now, sales are on par with annual ice cream sales ($5.1 billion), and salted snacks, such as Doritos, Cheetos and Funyuns ($4.9 billion), according to the report.