GITNUX MARKETDATA REPORT 2024

Must-Know Cannabis Industry Statistics [Current Data]

Highlights: The Most Important Cannabis Industry Statistics

  • The global legal marijuana market is expected to reach $84 billion by 2028.
  • The total projected employment in the U.S. cannabis industry is expected to reach 300,000 jobs by the end of 2021.
  • California’s cannabis market is the largest in the world at an estimated $3.1 billion annually.
  • As of 2021, there are over 320,000 legal cannabis jobs in the United States.
  • The largest group of medical marijuana patients in the U.S. are aged 50-59 years old.
  • The CBD market is expected to grow at a CAGR of 22.2% from 2019 to 2025.
  • 89% of cannabis sales in the United States in 2020 were for recreational use.
  • In the U.S. in 2021, cannabis tax revenues could reach $1.7 billion.
  • Cannabis-infused beverage sales are expected to exceed $2 billion by 2025.
  • In 2020, Colorado generated over $387 million in tax revenue from marijuana sales.
  • As of 2021, 16 states and the District of Columbia have legalized cannabis for recreational use in the U.S.
  • Approximately 8.1 million acres of land is used to cultivate cannabis worldwide.
  • The global medical cannabis market is projected to reach $33.81 billion by 2026.
  • Cannabis sales in Canada reached nearly $1.6 billion in 2020.

Table of Contents

The cannabis industry is growing rapidly, with the global legal marijuana market expected to reach $84 billion by 2028. The United States accounts for about 90% of the entire cannabis market and total projected employment in the U.S. cannabis industry is estimated to reach 300,000 jobs by 2021 end. California’s cannabis market alone is worth an estimated $3.1 billion annually while there has been a 61% increase in global funding to cannabis companies between 2018 and 2020 – reaching a total of $33.6 billion this year.
In addition, over 320,000 legal jobs have already been created within the US Cannabis Industry as well as 8 million acres used worldwide for cultivation purposes; not forgetting that 38% of business owners/operators are women too. Furthermore, CBD markets are predicted to grow at 22%, medical marijuana patients aged 50-59 years old make up largest group and Canada generated nearly 1$6billion from sales last year alone.
This blog post will explore these statistics further along with many more interesting facts regarding this ever-growing sector – so let’s dive right into it…

The Most Important Statistics
The global legal marijuana market is expected to reach $84 billion by 2028.

This statistic is a testament to the potential of the cannabis industry, indicating that it is a rapidly growing market with immense potential for growth. It is a sign that the industry is on the rise and that it is likely to continue to expand in the coming years. This statistic is a valuable insight into the future of the cannabis industry and can be used to inform decisions about investments and strategies for the industry.

The total projected employment in the U.S. cannabis industry is expected to reach 300,000 jobs by the end of 2021.

This statistic is a testament to the immense potential of the cannabis industry. It shows that the industry is growing rapidly and is expected to create a significant number of jobs in the near future. This is an encouraging sign for those looking to enter the industry, as well as for those already employed in the sector. It also speaks to the potential economic impact of the cannabis industry, as more jobs mean more money circulating in the economy.

Cannabis Industry Statistics Overview

California’s cannabis market is the largest in the world at an estimated $3.1 billion annually.

This statistic is a testament to the immense potential of the cannabis industry in California. It highlights the fact that the state is leading the way in terms of cannabis market size and revenue, and serves as a reminder of the immense economic opportunities that the industry presents. It is a powerful reminder of the potential of the cannabis industry and the potential for growth in the years to come.

As of 2021, there are over 320,000 legal cannabis jobs in the United States.

This statistic is a testament to the incredible growth of the cannabis industry in the United States. It shows that the industry is creating jobs and providing economic opportunities for thousands of people. It also highlights the potential of the industry to continue to expand and create even more jobs in the future. This statistic is a powerful reminder of the potential of the cannabis industry and its ability to create jobs and economic opportunities.

The largest group of medical marijuana patients in the U.S. are aged 50-59 years old.

This statistic is a telling indication of the growing acceptance of medical marijuana among older generations. It shows that the stigma surrounding cannabis is slowly being broken down, and that more and more people are turning to it as a viable form of treatment. This is an important development for the cannabis industry, as it opens up a new demographic of potential customers.

The CBD market is expected to grow at a CAGR of 22.2% from 2019 to 2025.

This statistic is a testament to the potential of the cannabis industry, indicating that the CBD market is expected to experience a significant growth rate over the next few years. This could be a sign of a booming industry, with more and more people turning to CBD products for their health and wellness needs. It is an important statistic to consider when discussing the cannabis industry, as it provides insight into the potential of the industry and its future prospects.

89% of cannabis sales in the United States in 2020 were for recreational use.

This statistic is a telling indication of the current state of the cannabis industry in the United States. It shows that recreational use of cannabis is becoming increasingly popular, and that the industry is growing rapidly. This statistic is important for anyone interested in the cannabis industry, as it provides insight into the current trends and potential opportunities for businesses in the industry.

In the U.S. in 2021, cannabis tax revenues could reach $1.7 billion.

This statistic is a testament to the potential of the cannabis industry. It shows that the industry is growing and that it is becoming an increasingly important source of revenue for the U.S. government. This statistic is a sign of the times, and it is indicative of the potential of the cannabis industry to become a major player in the economy.

Cannabis-infused beverage sales are expected to exceed $2 billion by 2025.

This statistic is a testament to the growing popularity of cannabis-infused beverages, and the potential for the cannabis industry to continue to expand and thrive. It speaks to the increasing acceptance of cannabis products in society, and the potential for the industry to become a major player in the beverage market. This statistic is a sign of the times, and a reminder of the potential for the cannabis industry to continue to grow and evolve.

In 2020, Colorado generated over $387 million in tax revenue from marijuana sales.

This statistic is a testament to the immense potential of the cannabis industry. It shows that the industry is capable of generating significant amounts of tax revenue for states, which can be used to fund public services and other initiatives. This statistic is a powerful reminder of the economic benefits that the cannabis industry can bring to states, and it is an important piece of information to consider when discussing the cannabis industry.

As of 2021, 16 states and the District of Columbia have legalized cannabis for recreational use in the U.S.

This statistic is a testament to the growing acceptance of cannabis in the United States. It shows that more and more states are recognizing the potential benefits of legalizing cannabis for recreational use, and that the industry is becoming increasingly accepted in the mainstream. This is an important milestone for the cannabis industry, and it is a sign that the industry is continuing to grow and expand.

Approximately 8.1 million acres of land is used to cultivate cannabis worldwide.

This statistic is a powerful indicator of the size and scope of the cannabis industry. It demonstrates the sheer amount of land dedicated to the cultivation of cannabis, highlighting the industry’s global reach and influence. It also serves as a reminder of the potential of the cannabis industry, and the potential for further growth and development.

The global medical cannabis market is projected to reach $33.81 billion by 2026.

This statistic is a testament to the immense potential of the cannabis industry. It shows that the market is growing rapidly and is expected to continue to do so in the coming years. This is an exciting prospect for those interested in the cannabis industry, as it indicates that there is a great opportunity for growth and investment. Furthermore, this statistic serves as a reminder of the importance of staying up-to-date with the latest industry trends and developments in order to capitalize on the potential of the cannabis industry.

Cannabis sales in Canada reached nearly $1.6 billion in 2020.

This statistic is a testament to the immense growth of the Cannabis industry in Canada. It shows that the industry has seen a significant increase in sales over the past year, indicating that the industry is thriving and has potential for further growth. This statistic is an important indicator of the success of the Cannabis industry in Canada and provides insight into the potential of the industry in the future.

Conclusion

The cannabis industry is growing rapidly, with the global legal marijuana market expected to reach $84 billion by 2028 and total projected employment in the U.S. cannabis industry estimated to reach 300,000 jobs by 2021. California’s cannabis market is currently the largest in the world at an estimated $3.1 billion annually while Canada has seen nearly $1.6 billion in sales for 2020 alone. The CBD market is also booming, with a CAGR of 22% from 2019-2025 and worldwide spending on legal cannabis reaching over 33 million dollars this year alone – not including tax revenues which could exceed 1 point 7 billion dollars just within America itself. Furthermore, there has been a 61% increase in funding towards companies involved within this sector between 2018-2020 as well as 8 million acres of land being used globally for cultivation purposes; showing that despite its controversial nature it remains one of today’s most profitable industries yet still holds potential for further growth moving forward into 2022 and beyond.

References

0. – https://www.ncsl.org

1. – https://www.grandviewresearch.com

2. – https://www.leafly.com

3. – https://www.globenewswire.com

4. – https://www.statista.com

5. – https://www.colorado.gov

6. – https://www.fool.com

7. – https://www.fortunebusinessinsights.com

8. – https://www.mjardin.com

9. – https://www.veriheal.com

10. – https://www.reuters.com

11. – https://www.itep.org

FAQs

What is the estimated value of the global legal cannabis market?

The estimated value of the global legal cannabis market is expected to reach approximately $66.3 billion by 2025.

Which country is the largest consumer of legal cannabis?

The United States is currently the largest consumer of legal cannabis, with states like California, Colorado, and Washington leading the way for a combined market share of over half of the entire U.S. cannabis market.

How many U.S. states have legalized cannabis for medical use, and how many for recreational use?

As of September 2021, 36 U.S. states have legalized cannabis for medical use, and 18 states have legalized the adult or recreational use of cannabis. In addition, the District of Columbia has also legalized both medical and recreational use.

What are some common uses of medical cannabis?

Medical cannabis is commonly used as a treatment for conditions such as chronic pain, multiple sclerosis, epilepsy, glaucoma, anxiety, and as an appetite stimulant for patients undergoing chemotherapy.

What are the major trends driving growth in the cannabis industry?

The major trends driving growth in the cannabis industry include increasing legalization and social acceptance of cannabis use, the development of new products and delivery methods, the expansion of medical cannabis research and use, as well as a growing focus on sustainability and the growth of cannabis tourism.

How we write our statistic reports:

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly.

See our Editorial Process.

Table of Contents