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Medical Cannabis Sales To Top Ice Cream In U.S.

May 15, 2018

As the medical cannabis market in America grows exponentially, a recent report noted that if it were to become fully legal on a Federal level, medical cannabis sales would trump that of one of America’s favorite comfort foods, ice cream

As a new report estimate that medical cannabis sales may reach 4.5 billion this year, another one claims that the medical cannabis industry is growing so fast that total demand for the plant is estimated at between $45-$50 billion, that according to Marijuana Business Daily.

Forbes reported that annually, ice cream sales only top $5.1 billion per year, while snacks like Doritos and Cheetos stimulate $4.9 billion. In shocking contrast, as per the report, “If the federal government legalized marijuana nationwide, sales might start out at around that level but would likely quickly rise as cannabis gained mainstream acceptance and the market evolved.”

If the estimates are correct, it wouldn’t be long until medical cannabis sales topped those of even tobacco and beer, a concept that will be shocking to most.

Cannabis isn’t even legal in the U.S. on the while, yet the industry already generated more than $4 billion in sales in 2016. As Chris Walsh, the editor of the report noted, “On the recreational side of the business, the originally legalized states are still posting massive growth. The demand for marijuana is so enormous in this country.”

However, it’s not just about revenue, what about jobs? As it stands now, the medical cannabis sector employs between 165,000 and 230,000 full and part-time workers. The report notes, “To put this in perspective, there are now more marijuana workers than there are bakers or massage therapists in the United States.”

On top of the revenue and jobs, there is also a massive knock-on effect to look at in terms of how those medical cannabis employees spend their earnings. Housing, food, travel, the stimulus to the economy is not one to be scoffed at.

It is estimated for example that for each dollar earned, $3 in economic benefits would be created in that area. And that’s not to mention the huge revenues that state and local municipalities can generate for their annual budgets.

The report concludes that as long as the new Trump Department of Justice leave the medical cannabis issue alone, all will go swimmingly. Many hope that the president himself will understand the tremendous benefit of medical cannabis, not just for medical relief, but also a source of solid and reliable revenue.

The post Medical Cannabis Sales To Top Ice Cream In U.S. appeared first on Cannadelics.





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