The North American legal marijuana market is growing like a weed, literally. Canada has just become the first industrialized country to go fully legal and many predict that the U.S. isn’t far behind their neighbor to the north.
By 2022, North American legal marijuana revenue is projected to reach $28.9 billion and it will account for 90% of the global legal marijuana market, according to “The State of Legal Marijuana Markets, 6th Edition”.
The report also stated that these sales could reach $47 billion in the next ten years. This rapid growth is what is luring more and more investors into the space and is also why many marijuana stock valuations have skyrocketed. With Canada’s Legalization, there’s now a mad rush to take full advantage of this market momentum.