OAKLAND, CA--(Marketwired - November 09, 2016) - Arcview Market Research, in partnership with New Frontier Data, have released a special Election Day update to the official Arcview Market Research growth projections in light of the California voters passing Prop. 64. The passage of the adult-use initiative in California will add $4.1 billion to the 2020 market forecast bringing the overall market projection for legal adult-use and medical sales in California to 7.6 billion by 2020. That brings the compound annual growth rate (CAGR) to 23%.
"This is the vote heard 'round the world. The other states that have passed legalization are like pilot studies compared to the seismic shift in the market that legalizing marijuana in the 6th largest economy in the world will cause. There is nothing more powerful than an idea whose time has come. This is marijuana's moment," said Arcview CEO Troy Dayton.
"With the passage of adult use in California, the state has become the new epicenter of the legal cannabis industry. As both the oldest medical cannabis state and the largest cannabis consumer population, sales in California are projected to dwarf those of any other market. Additionally, the integration of California's technology and marketing expertise will be enormously into the cannabis industry both domestically and internationally," said New Frontier Data Founder & CEO Giadha DeCarcer.
Arcview and New Frontier recently published a market report on the dynamics and key business drivers in California. It is available for $249 at ArcviewMarketResarch.com and NewFrontierFinancials.com.
About The Arcview Group:
Founded in 2010, The Arcview Group is responsible for a number of groundbreaking ventures in the cannabis industry. The Arcview Investor Network includes more than 550+ dues-paying accredited investors who have put more than $85 million behind 131 companies and will be hosting the first post-election gathering of high net worth investors in Las Vegas 11/14-15. Arcview Market Research produces the State of Legal Marijuana Markets report, which is the most oft-cited market report. Arcview is a partner in Canopy, the top seed-stage mentor-driven business accelerator. Arcview is also co-founder of Cannasure Insurance Services, the leading provider of business insurance to the cannabis industry. For more information or media inquiries, please visit www.arcviewgroup.com or contact Abby Benjamin at 720-518-7611 or email@example.com.
About New Frontier Data:
New Frontier Data provides objective, rigorous and comprehensive analysis and reporting for the nascent and underserved cannabis industry. New Frontier's data and reports have been cited in over 45 countries around the world to inform industry leaders. New Frontier, the premiere Big Data shop in the sector looks beyond the plant cultivation and distribution, to raise the industry bar and improve visibility into what will inevitably soon be a mature and more complex industry. Founded in 2014, New Frontier is headquartered in Washington, D.C. and has additional offices in Denver. For more information or media inquiries, please visit www.frontierfinancials.com or contact Gretchen Gailey at 202-489-3821 or firstname.lastname@example.org.