Cannabis is poised, if it hasn't already, to become America's fastest growing business. Nationwide, cannabis sales generated $5.4 billion in revenue last year according to ArcView's most recent report. In 2016, that number is expected to reach $6.7 billion. By 2020, the aggregate size of the U.S. cannabis industry may exceed the National Football League.
So how big is Oregon's share of legal marijuana sales? Big, and growing. In 2015 somewhere in the neighborhood of $257 million, including medical and recreational sales, according to New Frontier's Oregon report.
New Frontier's report from last year projected Oregon to generate $464 million of revenue from cannabis in the year 2020. Keep in mind these projections are from last year. Colorado exceeded all expectations when it reported over $1 billion in cannabis sales in 2015. And ArcView's latest reports back that up. ArcView's new report, released last month projects Oregon's adult recreational market to be $985 million by itself.
Oregon does not report its adult marijuana use sales to the degree that Washington and Colorado do yet, but we can glean from the first week of early recreational sales in October ($11 million), that demand is high. Oregon is 6th in the nation in per capita marijuana use at 16.7%. 660,000 of those users are what we would term adult recreational users (formerly illicit users). An additional 72,000 are OMMP cardholders. Oregon's cannabis future is very bullish.