Legal Marijuana Market to Grow at CAGR of 37.38 %

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Legal Marijuana Market Drivers, Challenges and Trends: — (And they say, legalization doesn’t increase demand?)

Market Driver: — Rising social acceptance of marijuana and growing business opportunities will be a key driver for market growth. the society’s perception of marijuana is shifting from an intoxicating drug to serious business venture. the cannabis market posted a growth of 70% during 2013 and 2014, successfully attracting the attention of several large and small investors. the growth of the marijuana market has significantly increased the revenue for dispensary owners as well as cultivators and governments. in addition, the growing popularity of marijuana for recreational purpose is increasing the market competition and business opportunity for several vendors. ancillary businesses such as cannabis oil market, hookahs parlor, bubblers, volcano vaporizers and percolated bongs, thc-infused ice cream, and brownies are also profiting from the growing legal marijuana market.

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