DENVER, Jan. 28, 2015 /PRNewswire/ -- With the Washington Post reporting that the marijuana industry could be bigger than the NFL by 2020, the astonishing snowball effect of the US cannabis sector continues. In center stage is the business-to-business cannabis trade show, the BIG Industry Show, held in Denver this April 14-15.
An awful lot of figures have been bandied about in recent months regarding the size of the US legal marijuana industry. The Washington Post put it most clearly in perspective when it reported that the industry could be bigger than the NFL by 2020.
Quite a claim, but the publication's figures can't be disputed. They are based on the Greenwave Advisors report (comprehensive research and financial analysis for the emerging legalized marijuana industry), which states that the booming marijuana industry could be worth $35 billion by 2020 if legalized at federal level. The NFL's annual revenue currently stands at $10 billion.
Of course, at present federal legalization is not guaranteed, but the cannabis industry is booming in the US nonetheless. Most recently, Oregon and Alaska stepped forward for their piece of the pie, passing marijuana legalization initiatives in November 2014. Estimates from ArcView Market Research project that first year retail sales in Oregon could reach $200 million. In Alaska, first year retail sales are tipped to generate some $80 million.
At present, the industry is believed to be worth around $2.6 billion, up from $1.5 billion in 2013, according to ArcView Group's figures.
At the center of this budding industry is the BIG Industry Show, the must-attend cannabis trade show that connects vendors and retailers from across the US in Denver, Colorado, each year. Smoke shops, grow shops, vape shops – all of these and more will be queuing up to attend when the BIG marijuana trade show returns to Denver this April 14-15.
The BIG Industry Show is the cannabis industry's essential business event. Every product imaginable will be for sale in a carefully mapped out order that will maximize both enjoyment and networking opportunities for buyers. From cultivation products to smoking devices and everything in between, the BIG Industry Show will astound and delight those attending.
The 2015 event is focused on three core strands – vaping, growing and functional glass art. Each element will feature unique products from talented independent producers, as well as mass produced essentials that every smoke shop carries. Wholesalers, retailers, service providers – everyone will be present and looking forward to doing two days of fantastic business.
While nobody can say for certain how much the marijuana industry boom will mean the sector is worth by 2020, it is clear that the industry is still a long way from reaching its potential. As understanding and acceptance spread, more and more states are expected to join the stampede. California is expected to have introduced Adult Use regulations by 2017, while Nevada is going to put legalization to the vote next year.
With legalization snowballing, businesses that want to be part of the boom really cannot afford to miss this year's BIG Industry Show. Anyone who's anyone in the industry will be in Denver this April.
For the latest information on plans for the 2015 Galleria glass exhibition on April 14-15, visit www.BIGIndustryShow.com.
SOURCE BIG Industry Show