Believe it or not, but Americans will probably spend more money on weed this year than ice cream. A new report from Marijuana Biz Daily expects retail sales to increase by more than 30 percent, hitting somewhere from $5 billion to $6 billion in 2017. The estimated total demand, however, for marijuana in the United States, including the black market, is around $45 billion to $50 billion.

Exclusive: Retail sales of medical and recreational cannabis in the United States are expected to hit $5 billion-$6 billion in 2017. pic.twitter.com/jCjIdhuTZW

— Marijuana Biz Daily (@MJBizDaily) May 17, 2017

Just for comparison, total ice cream sales will likely only garner $5.1 billion, according to the trade publication’s 2017 Marijuana Business Factbook. For reference, sales for movie tickets will clock in at $11.1 billion and snacks like Doritos, Cheetos and Funyuns at $4.9 billion.

Notably, recreational sales may pass medical sales this year for the first time–recreational marijuana is poised to make $2.6 billion to $2.9 billion in sales this year versus $2.5 billion to $3.2 billion on the medical side.

The policy site attributed much of the recreational revenue bump to Nevada’s early launch of adult-use sales in July, and continued growth in existing markets in  Colorado, Oregon, and Washington. In the next three to five years, this number is estimated to grow substantially thanks to new adult use markets in California, Maine, and Massachusetts.

Legalization of medical marijuana in states like Ohio–where it will  be up and running by September 2018–is also expected to boost future sales.

In 2016, the legal marijuana industry brought in between $4 billion and $4.5 billion, outselling Viagra and Cialis, paid music streaming services, tequila, and Girl Scout cookies.

The report estimates that for every $1 consumers spend at dispensaries, another $3 in economic benefits are created in cities, states, and nationwide. Marijuana tax revenue, for instance, contributes hundreds of millions of dollars to state and local municipalities, which is used to help balance budgets and fund local projects and government programs.

According to these projections, by 2021, annual retail marijuana sales in the United States could top $17 billion–a 300 percent increase from 2016. In other words, it appears that this so called “green rush” shows no signs of slowing down.

Alexis Evans

Alexis Evans is an Assistant Editor at Law Street and a Buckeye State native. She has a Bachelor’s Degree in Journalism and a minor in Business from Ohio University. Contact Alexis at aevans@LawStreetMedia.com.

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Cannabis and caffeine lovers rejoice: San Diego-based BrewBudz will soon be debuting a coffee, tea, and cocoa pod product, fit for Keurig machines, that are infused with marijuana. According to the company’s tagline, the hybrid product will be “good for you” and “good for the earth.” Its pods will be made of 100 percent compostable material, including the caps, which are made of coffee beans.

Calling cannabis and coffee “two important rituals,” the BrewBudz website says: “The merging of cannabis and coffee delivered in a sustainable and environmentally conscious way invests us in the responsibility of caring for both our customers and the earth.” The site adds: “Our goal is to provide full life-cycle recycling and composting from the plant harvest to the disposal of our coffee grounds and packaging.”

Entrepreneurs are seeing more openings in the cannabis market since Election Day, when nine states voted to legalize marijuana in some form; nearly a quarter of Americans now live in a state with legal marijuana laws. A number of Cannabis-infused products have hit the market: chocolate, candy, syrup, cocktails, and pet treats.

But what about the health effects of mixing two brain-altering drugs into one drink? Consuming coffee, a stimulant, and marijuana, a depressant, at the same time could make the user feel wired and tired at the same time. There is not a plethora of research on how combining THC and caffeine can affect a person’s health.

States that have legalized recreational marijuana have proven to be especially fertile grounds for new companies to spring up. In Colorado, where weed has been legal since 2012, sales for marijuana during the first half of 2016 neared half a billion dollars. By 2020, California, which legalized medical marijuana 20 years ago and recreational in November, is expected to have a legal weed market worth about $6.5 billion.

The pot pods will launch in January in Nevada, which legalized recreational marijuana in November, and Colorado. Washington, Oregon, California, and Arizona residents will be able to purchase BrewBudz products in March. Each pod will cost $7, and a cup of a brew for recreational purposes will consist of 10 milligrams of THC, while a medically-oriented brew will have 25 to 50 milligrams of the compound.

Alec Siegel

Alec Siegel is a staff writer at Law Street Media. When he’s not working at Law Street he’s either cooking a mediocre tofu dish or enjoying a run in the woods. His passions include: gooey chocolate chips, black coffee, mountains, the Animal Kingdom in general, and John Lennon. Baklava is his achilles heel. Contact Alec at ASiegel@LawStreetMedia.com.

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