Chart: Recreational marijuana markets in Washington, Colorado still soaring

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Summary

Average monthly sales growth in 2016 before July was 6%. By Eli McVeySales of recreational marijuana in the nation’s two largest and oldest adult-use markets – Colorado and Washington state – eclipsed $1.5 billion in 2016, rising a combined 66% from the previous year.The figures highlight the massive growth potential for the rec side of the cannabis industry, which is still in its infancy. Required fields are marked *Name*Email*Website Please note: Comments are moderated by our editors who do their best to approve comments ASAP. As Marijuana Business Daily is focused on business, we approve comments that are specifically relevant to industry professionals. General opinions and questions about cannabis may not be posted. But they may mask the growing difficulties of turning a profit as the competition increases by the day.In Washington, adult-use sales for 2016 nearly doubled from a year earlier, increasing 95% to $696 million.While much of that growth was organic, the recreational market received a big boost when the state eliminated all medical marijuana dispensaries last summer.In the month after that transition, rec sales surged by more than $10 million, up 19% month-over-month.

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By Eli McVey

Sales of recreational marijuana in the nation’s two largest and oldest adult-use markets – Colorado and Washington state – eclipsed $1.5 billion in 2016, rising a combined 66% from the previous year.

The figures highlight the massive growth potential for the rec side of the cannabis industry, which is still in its infancy. But they may mask the growing difficulties of turning a profit as the competition increases by the day.

In Washington, adult-use sales for 2016 nearly doubled from a year earlier, increasing 95% to $696 million.

While much of that growth was organic, the recreational market...

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