Marijuana Stores Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 4/12/2021
SIC Codes: 5993, 5999
NAICS Codes: 453998
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
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Excerpt from Marijuana Stores Industry Profile

Interest in the marijuana industry is soaring due to increased public acceptance and reduced regulation in US states as well as in countries around the world. The multibillion-dollar global industry is experiencing strong growth, though the newness of the market and variance in regulation across geographies creates major barriers to entry. The industry includes medical marijuana dispensaries and stores that sell marijuana for recreational use.

Investors and entrepreneurs are confident of the market's potential, but determining which business approaches are most viable is challenging. Legal and financial risk parameters are difficult to define, and industry data and analysis are minimal. Regardless, increased capital is flowing steadily into the industry. Startup resources including finance, logistics, software, and consulting are materializing rapidly.

Estimates of the number of marijuana-related businesses in the US range from about 13,000 to 18,000, according to Statista. No major companies dominate the industry. Global legal cannabis sales grew from $10.2 billion in 2018 to $14,9 billion in 2019 and is expected to hit $42.7 billion in 2024, according to a 2019 report from ArcView Group and BDS Analytics. Marijuana was legal for medical use in 33 states and for recreational use in 14 states as of September 2019. The global market is growing rapidly, with estimated revenue of $10.9 billion in 2018.


Demand is driven by demographics, public awareness of the marijuana plant's medicinal properties, and the ...

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