A new report projects the cannabis market in the United States will reach $22.7 billion in sales by 2023. The estimates in the Brightfield Group report imply a compound annual growth rate (CAGR) of 20 percent over the next four years.

The recreational market is expected to lead the charge, at least in 2019, delivering 33 percent growth, driven by a variety of factors including the stabilization of the market in California and new adult-use markets coming online.

The Brightfield Group, a predictive market intelligence services provider for the CBD and cannabis industry, last year predicted the hemp-derived CBD market would hit sales of $22 billion by 2022.

Click here to read the complete article

Javier Hasse ~ Benzinga.com

Recent News Articles

Monday May 27

Veterans Face Hurdles to Marijuana Access - Cannabis News

in Activism

by Bruce Kennedy - Editor in Chief

The VA does not allow its doctors to prescribe medical marijuana in states where it…

1109 hits

Monday May 27

Legal weed can raise the roof on home prices - Cannabis News

in Real Estate

by Bruce Kennedy - Editor in Chief

Experts suggest that property values get a contact high from retail marijuana because home buyers,…

1579 hits

Monday May 27

How California female cannabis entrepreneurs are overcoming hurdles in fledgling legal industry - Cannabis News

in Finance

by Bruce Kennedy - Editor in Chief

Female business owners face challenges starting and running cannabis operations, according to several such entrepreneurs…

1609 hits

Monday May 27

Has legal cannabis killed the bong? - Cannabis News

in Culture & Arts

by Bruce Kennedy - Editor in Chief

Under cannabis prohibition, nothing signified one’s love of the plant more than bongs – but…

1479 hits

Tuesday May 28

TSA Updates Marijuana Rules To Allow Hemp-Derived CBD On Flights - Cannabis News

in Law & Crime

by Bruce Kennedy - Editor in Chief

The Transportation Security Administration (TSA) updated its policy on cannabis over the Memorial Day weekend,…

1105 hits