Marijuana Dispensary Real Estate in California Market Encouraged by New Report Suggesting Incredible Profits to be Made

A new report has estimates that consumers spent 53.3 billion dollar on cannabis in North America in the past year, most of it illegally. This analysis was the first of its kind and was compiled by ArcView Market Research. The report examined legal, medical and illegal markets across both Canada and the United States. Their findings only encourage ownership of marijuana dispensary real estate in California.

The illegal market was responsible for around 46 billion dollars in expenses, making up 87% of marijuana sales in 2016. In 2015, this percent was higher, at 90%. Marijuana bought illegally dwarfed both legal and medical sales.

As California, Massachusetts and Canada expand cannabis sales are expected to help the legal marijuana market to expand from its current 6.9 billion dollars to 21.6 billion dollars by 2021. The 6.9 billion dollar figure is in itself a thirty four percent increase from just one year, 2015.

If these projects turn out to be correct, the rate of growth in five years for legal marijuana from 2016 to 2021 would fall just short of the increase in profits broadband internet providers enjoyed from 2002 through 20007, which grew around 29% each year – from around 7 billion to over 25 billion.

Marijuana is in a unique position as opposed to most billion dollar industries that preceded it, because the market doesn’t need to be sculpted from scratch, it just needs to make a transition from illicit to legal channels of sale.

The marijuana market contrasts with other markets with fast growth in recent decades, like organic foods, mobile, the internet or home video. It doesn’t need to create demand for a new product – it only needs to move demand fro an extremely popular product into legal channels.

The marijuana market may not have too much work cut out for it. In states that have opted to tax and regulate the drug, the black market has decreased sharply. For example, Colorado’s black market accounts for only one third of marijuana sales – the majority of consumers have transitioned to legal marketplaces.

This is all the more reason to open up a dispensary in states where cannabis has been legalized medically or recreationally. No need to create demand for cannabis exists, it is already wildly popular. The only roadblock that exists for the marijuana industry is to transition consumers from illegal black market outlets to legal outlets, something trends in states like Colorado have suggested may be easier than once thought.

This is just one of many reasons why people are buying up more marijuana dispensary real estate in California – the enormous capacity for profits and the chance to change history, improving lives of medical patients and recreational users of cannabis.