A recent consumer survey reveals a lot about the future of the marijuana industry.
The survey points to a massive explosion coming for the legal marijuana industry in the United States.
The survey by A.T. Kearney, a global strategy and management consulting firm, asked 1000 U.S. consumers and 1000 Canadian consumers and was featured by CNN Business.
The results show the legal marijuana industry still has a long way to go.
It shows the super-spike in marijuana stocks when the U.S. does fully legalize it at the federal level is more likely than not too.
Until then, the survey points to where marijuana investors should be putting their money.
The headline number is the key.
The survey found 76% of respondents would use legal cannabis-infused products.
That’s the kind of potential market that will make legal marijuana a $50 billion, $100 billion, or more industry.
But there’s a catch.
The catch is the word “legal.”
Most consumers just won’t try it unless it’s completely legal.
That’s why full federal legalization is key to hitting the maximum potential growth in the United States and why we still expect the biggest run of all in marijuana stocks to come as full legalization nears.
The survey also provided some more clues to the future of marijuana.
No Seed Investor reader should be surprised that 41% of respondents to the survey said they would be willing to consume marijuana in the form of marijuana-infused edibles.
That is slightly higher than the 39% who said they would try smoking marijuana.
And shows why marijuana extracts are set to be the biggest part of the industry when its fully matured.
Any way you look at it, these are good results for the future growth of the marijuana industry. Marijuana use is becoming increasingly acceptable and the industry still has the potential to grow another five or ten times over.