Marijuana Market to Expand From $9 Billion in 2017 to $75 Billion by 2030
From one state to 29 and from one country to nine in just 20 years
Las Vegas, May 22, 2018 (Newswire.com) - One of the fastest moving phenomena propelled by the Generation X-tasy Ubertrend, which is uniquely tracked by Ubercool Innovation® trend forecaster Michael Tchong, medical and recreational marijuana, will grow more than eightfold from $9.1 billion in 2017 to $75 billion by 2030, with two-thirds of revenues already generated by recreational sales and 33% derived from the medical marijuana sector. As more U.S. states and countries join this fast-moving wave, a broad range of industries will feel the impact, ranging from farm equipment to fertilizer to travel and hospitality, plus such supporting industries as media, conferences and education/training.
“The widespread move to legalize marijuana is being driven by a huge swing in voter sentiment with the number of Americans who agree it should be legalized going from just 12% in 1969 to 61% today,” observes Tchong. “Even such conservative South American governments as Colombia and Peru recently legalized medical marijuana, both following in the footsteps of the radically innovative Uruguay, which became the first country in the world to legalize marijuana for all its citizens,” adds Tchong. “Positive media coverage also contributed to the momentum shift, with such prestigious media outlets as CNN and The New York Times reporting on the benefits of medical marijuana.”
The widespread move to legalize marijuana is being driven by a huge swing in voter sentiment with the number of Americans who agree it should be legalized going from just 12% in 1969 to 61% today
Michael Tchong, Trend Forecaster
“The apology of CNN’s Dr. Sanjay Gupta for not believing marijuana’s medicinal benefits, in particular, was pretty remarkable,” notes Tchong. “Two states, Oregon and California, kickstarted the trend, yet it took 23 years after Oregon decriminalized marijuana in 1973 for California to take the next bold step of legalizing medical marijuana in 1996.”
About Ubercool Innovation
Ubercool Innovation LLC is a thought leader innovation incubator founded by author, entrepreneur, adjunct professor, motivational speaker and trend forecaster Michael Tchong. Ubercool Innovation is a "do tank" — it doesn't merely talk innovation, it practices what it preaches. Michael addresses audiences globally with insights on emerging trends and innovations. He is a four-time entrepreneur and the founder of ICONOCAST, CyberAtlas, Atelier Systems and MacWEEK. For more information, call 800-WAY-COOL (international: 415-335-7615) or visit https://ubercool.com.
Source: Ubercool Innovation LLC
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