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Marijuana Market Sees More Growth than Smartphone Market

What is the fastest growing market in the United States? It’s not the equities market and it’s not commercial real estate. It’s the legal marijuana market! The Huffington Post says that the legal marijuana market is “growing at a rate poised to outpace the expansion of the smartphone market.”

The entire marijuana industry, including retail, processing, dispensary, shipping, manufacture, and other upstream components of the market have an estimated valuation of almost 2 billion USD. Researchers feel that the market will grow by 64% next year to almost $2.5 billion next year.

Steve Berg, a former managing director of Wells Fargo Bank, an editor of this report,  The second edition of the State of Legal Marijuana Markets, commented, “Domestically, we weren’t able to find any market that is growing as quickly. Entrepreneurs and private investors are flocking to cannabis markets. Those who really understand market dynamics will reap large rewards. This industry is professionalizing and seeing an influx of professionals from other industries. More and more investors are coming in and financing these businesses, which have more and more markets to serve.”

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In a low rate environment like this one, investors are looking for yields that signify growth in the short and long term. Technology has historically been a volatile market but even that growth is outpaced by the marijuana industry. If experts and investors are right, the industry’s trajectory alone will rally hungry speculators and entrepreneurs to their cause. What people who invest want more than anything else is a return. Regardless of the small details, a high risk adjusted return is all that is needed to start a fire.

Berg notes that Attorney General Eric Holder said that the Department of Justice would not interfere with the laws passed regarding usage of marijuana in Washington and Colorado. “Federal acceptance of marijuana is not going to happen in one fell swoop,” he commented. “It will happen incrementally, with important steps along the way.”

Image Credit: 123rf.com & animalnewyork.com

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Jaan Posted by on November 5, 2013. Filed under Business News. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.

 

 

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