United States: the legal cannabis sector is expected to generate $40 billion and 400,000 jobs by 2021

The legalization of cannabis in California will focus the country's - and the world's - attention on the state for some time to come.

ArcView, the leading market research institute for the US cannabis industry, took the opportunity to release its economic projections for the evolution of the US cannabis market.

By way of background, Arcview was founded by Steve DeAngelo, who also owns Harborside, the largest dispensary in California (if not the USA). we told you about yesterday at the opening of sales.

According to its latest estimates, relayed by AFP, the legal cannabis sector should generate $40 billion and more than 400,000 jobs by 2021 in the United States. In 2017, the cannabis sector weighed in at around $16 billion in the United States.

This $40 billion includes $20.8 billion in direct cannabis sales, with the remainder split between indirect revenues from growers and ancillary industry businesses (security, banking, delivery...), to which the study adds money spent in non-industry businesses, such as supermarkets or fast-food outlets.

In comparison, the French alcohol industry generated sales of 19.6 billion euros. in 2011, 3 billion in tax revenues, excluding VAT.

In terms of employment, California alone is expected to create 100,000 jobs by 2021, a third of the national total of 400,000 including indirect effects.

The Marijuana Business Factbook 2017,a U.S. business newspaper dedicated to cannabis, projected a global impact of $68 billion by 2021, in the high range (48 in the low range).

Several US states considering legalizing cannabis this year, including Michigan, Missouri and Oklahoma, which will soon be added to the range. list of 29 american states that already provide some form of access to medical and/or adult-use cannabis.

The cannabis industry finally normalized in late 2017 when Constellation Brands, one of America's leading alcohol distributors, issued decided to invest in a Canopy Growth, Canada's largest producer of medical cannabis.