The marijuana floodgates are bursting wide open. After a solid 2016 in which recreational cannabis sales jumped by 80%, we expect 2017 overall marijuana sales in the United States at the retail level to soar by roughly 30%, hitting $5.1 billion-$6.1 billion on the back of continued growth in existing recreational cannabis markets. In fact, recreational sales are expected to surpass medical this year for the first time ever. Medical marijuana sales also are expected to buoy the industry, fueled in part by the expected launch of medical marijuana markets in Maryland and Hawaii. We believe the growth of the cannabis industry over the next 4 years will be great.
The 2016 elections will go down as one of the biggest moments in the history of the marijuana industry, as voters in eight states passed significant marijuana measures. Arkansas and North Dakota legalized medical marijuana; Florida, which previously had a CBD-focused law, approved a full-strength MMJ program; Montana, which legalized medical cannabis long ago but never established a framework for businesses, passed a measure to allow commercial cultivation and sales of MMJ, and California, Maine, Massachusetts and Nevada legalized recreational cannabis.
But 2016 was a historic year for other reasons, too. Ohio and Pennsylvania both legalized medical cannabis earlier in the year through their legislatures, and Louisiana passed a bill to allow commercial MMJ cultivation and sales.
Combined, these new markets will generate an estimated $7 billion-$8 billion in additional annual retail revenues within the next five or six years, ushering in immense business opportunities.
Europe Industry Outlook
Recently, political and social events in The Netherlands may indeed be the first steps to a European system of legal cannabis cultivation similar, to the USA model. If current politics continue to progress in the right direction then an alliance could create a majority vote in favor of legal commercial-scale cannabis cultivation. It could be the first step in the birth of a European cannabis revolution which may end up closely following the USA legal cannabis model.
We expect the legal cannabis industry to grow rapidly in the coming years and will be poised to assist the emerging companies across Europe. This will allow for further growth of Greenview Investment Partners, and greater rewards for investors.
Greenview Investment Partners Is Currently
Active in the Following Sectors
Medical & Recreational Dispensaries
Pharmaceutical Firms & Research