Industrial Marijuana and $22B to Drive Water Solutions
On 7 July 2017, the California State Water Resources Control Board released its draft Cannabis Cultivation Policy. The proposed policy aims to ensure that the diversion of water and discharge of waste associated with cannabis cultivation does not negatively impact water quality and quantity in the state.
Making up an estimated 13% of the total market, legal marijuana sales in the U.S. totaled approximately US$7.1 billion in 2016 and are forecasted to reach US$22 billion by 2020. At this growth rate, legal marijuana sales will become the 4th largest agricultural crop in the U.S., behind corn, soybeans, and fruit & nuts.
As the sector evolves, and transitions towards more industrialized scale and processes, the anticipated opportunity for water solutions and management will be too large to ignore.
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