Analysts Predict Mass. Legal Cannabis Market Worth $1B by 2020
By TG Branfalt, Jr.
According to ArcView Market Research and New Frontier Data, Massachusetts’ legal cannabis industry could be worth over $1 billion by 2020 with an annual growth rate of 113 percent, driven largely by tourism.
The analysts are forecasting $52 million in growth in 2016 solely from medical sales, while the $1.07 billion figure in 2020 is from both adult-use and medical markets.