WASHINGTON, DC--(Marketwired - December 21, 2016) - New Frontier Data, the cannabis Big Data and analytics authority, in partnership with Arcview Market Research, the leading publisher of cannabis market research, has released its Colorado Legal Cannabis Market State Profile, which shows the potential growth of Colorado's adult use and medical markets. Our report projects that Colorado's total cannabis market could grow to over $2 billion by 2020.*
"As the first state to legalize adult use cannabis, Colorado has been a leader in pioneering the legal industry. Colorado has become the epicenter of cannabis being the first state to develop and activate well-regulated medical and adult use cannabis markets. They have responded quickly and effectively to potentially crippling market disruptions and have been both cautious in their approach to ensure public health and safety while understanding business considerations and market growth potential," said New Frontier Data Founder & CEO Giadha Aguirre DeCarcer.
"The naysayers said the sky would fall in Colorado and that the tax money and jobs wouldn't ever really materialize. The naysayers were wrong. Colorado's market has surpassed almost everyone's expectations in terms of sales and societal benefits. It's one of the reasons that national public support for adult-use legalization has skyrocketed to 60%," said Troy Dayton, CEO of The Arcview Group.
Colorado's medical cannabis sales are expected to total $438 million in 2016 climbing to $663 million by 2020. Adult use sales are expected to total $739 million in 2016, growing to $1.34 billion by 2020. The Colorado cannabis market in total is projected to have a compound annual growth rate (CAGR) of 20% from 2014 to 2020.
One catalyst to Colorado's robust market is the state's well developed regulatory environment and market oversight capacity. The Marijuana Enforcement Division (MED), the state agency created to oversee the state's cannabis industry, has been applauded for its rigorous but responsive approach to regulating the market. MED has been instrumental in creating a market friendly environment in Colorado, allowing the cannabis industry to rapidly develop within the state and ensuring Colorado continues to be a leading market within the industry.
Some other key areas examined in the Colorado report include:
- Impact of the cannabis industry on the state economy
- Trends in cannabis-related arrests
- Highway safety post-legalization
- Effect on Youth
- Social consumption
- Product quality testing and growing pesticide concerns
If you would like more information on Colorado's legal cannabis markets, you can download the 2016 Colorado Legal Cannabis Market State Profile at https://newfrontierdata.com/product/colorado/ and the report can be ordered for $249.
*Market figures to be attributed to Arcview Market Research.
About New Frontier:
New Frontier provides objective, rigorous and comprehensive analysis and reporting for the nascent and underserved cannabis industry. New Frontier's data and reports have been cited in over 45 countries around the world to inform industry leaders. New Frontier, the premier Big Data shop in the sector looks beyond the plant cultivation and distribution, to raise the industry bar and improve visibility into what will inevitably soon be a mature and more complex industry. Founded in 2014, New Frontier is headquartered in Washington, D.C. For more information or media inquiries, please visit www.frontierfinancials.com or contact Gretchen Gailey at 202-489-3821 or firstname.lastname@example.org.
About The Arcview Group:
Founded in 2010, The Arcview Group is responsible for a number of groundbreaking ventures in the cannabis industry. The ArcView Investor Network includes more than 600+ dues-paying accredited investors who have put more than $91 million behind 135 companies. The next big members-only Arcview Investor Forum is scheduled for January 16-18 in Los Angeles, CA. Arcview Market Research produces the State of Legal Marijuana Markets report, which is the most oft-cited market report. Arcview is a partner in Canopy, a seed-stage mentor-driven business accelerator. Arcview is also co-founder of Cannasure Insurance Services, the leading provider of business insurance to the cannabis industry. For more info on The Arcview Group please visit www.arcviewgroup.com or contact Abby Benjamin at 720-518-7611.