A cannabis consumer typically spends an average of $1,869 on their habit annually, as opposed to Americans spending roughly $1,500 each year on their pets.
San Francisco, CA (PRWEB) February 19, 2015
GreenRushReview.com, a cannabis business news website recently reported that with marijuana being legal for medical use in over 23 states and the potential for it to soon be legal for recreational use in four, the marijuana industry is among the best industries for entrepreneurs in 2015.
Business publication Inc.com reports that although the legal cannabis industry is still very young, there is already very strong demand for all forms of cannabis - whether medical or recreational, edibles, extracts, or concentrates. The industry is flourishing and is expected to grow even bigger as more states legalize the herb.
The same INC article also reveals that in the first quarter of 2014, the state of Colorado had already raised $25 million from businesses for licenses, fees, and taxes. Marijuana’s retail market in Colorado generated a whopping $350 million revenue for 2014, and is predicted to grow by 20 percent this year and reach $420 million.
Cannabis has become a major industry in the United States, particularly after Colorado allowed for the sale of recreational cannabis in early 2014. According to IBISWorld, revenue for the medical marijuana growing industry has increased 16 percent per year in the last five years, thus amounting to approximately $2 billion in 2014.
Examples of companies successfully capitalizing on the cannabis boom are plentiful. One rising star featured on GreenRushReview.com is India Globalization Capital, Inc. which builds indoor vertical farms that utilize state-of-the-art technology to produce organic leafy green vegetables, but whose facilities will eventually allow them to grow legal cannabis.
With countless untapped business opportunities in the marijuana field, Inc.com mentions that the first movers in the industry are likely already on their way to long-term viability.
According to a Forbes.com article, the marijuana industry is a desirable sector to enter primarily because its customers are big spenders. A cannabis consumer typically spends an average of $1,869 on their habit annually, as opposed to Americans spending roughly $1,500 each year on their pets.
GreenRushReview.com strives to be a convenient and reliable online resource for all cannabis consumers, entrepreneurs and investors. The website aims to provide the general public with extensive coverage on news, and opinions on the multi-billion marijuana industry and culture in North America, including industry stocks, prices, implications, trend developments, investment opportunities and legislation.
The site also hosts a cannabis industry directory, related videos, articles, company profiles and press releases.
The term “Green Rush” refers to the swift surge of activity brought about by the legalization of medical marijuana in over 23 states, and the acceptance of comprehensive cannabis and medical marijuana programs.
GreeRushReview.com is part of a portfolio of cannabis industry sites, which includes http://www.BestMedicalMarijuanaStocks.com (top medical marijuana company news), http://www.MarijuanaStocksReport.com (cannabis small cap stock news) and http://www.MarijuanaStock.net (financial cannabis company news).
Companies seeking exposure on GreeRushReview.com can contact editorial(at)greenrushreview(dot)com for more information.