Key Highlights
- The global legal cannabis market was valued at approximately $21.3 billion in 2022
- North America accounted for over 89% of the global cannabis market in 2022
- The legal cannabis industry in the US generated $27.6 billion in 2022, increasing from $17.5 billion in 2020
- The number of legal cannabis consumers in the US reached approximately 43 million in 2023
- Medical cannabis is legal in 38 US states as of 2023
- Adult-use recreational cannabis is legal in 21 US states plus DC
- The US cannabis market created approximately 428,059 new jobs in 2022
- The average retail price of legal cannabis in the US dropped by approximately 20% between 2021 and 2023
- Legal cannabis sales in Canada surpassed $3 billion CAD in 2022
- Canada’s legal cannabis market saw a 33% increase in sales from 2021 to 2022
- The global CBD market alone was valued at $9.1 billion in 2022, expected to grow rapidly
- In 2022, roughly 43% of Americans aged 18+ reported having tried cannabis at least once
- The majority of cannabis consumers in the US are between 18-34 years old, constituting about 50% of users
The booming cannabis industry is transforming economies worldwide, with the US leading a $21.3 billion global market in 2022 and generating over 428,000 new jobs, as legalization and innovation propel consumption, investment, and acceptance to unprecedented heights.
Consumer Demographics and Usage Patterns
- The number of legal cannabis consumers in the US reached approximately 43 million in 2023
- In 2022, roughly 43% of Americans aged 18+ reported having tried cannabis at least once
- The majority of cannabis consumers in the US are between 18-34 years old, constituting about 50% of users
- In California, nearly 50% of adults have tried cannabis at least once
- The percentage of active cannabis users in Colorado increased from 15% in 2014 to over 20% in 2022
- The median age of legal cannabis consumers in the US is around 39 years old
- The majority of legal cannabis sales in the US are for adult personal use, accounting for approximately 70%
- In the US, approximately 81% of cannabis consumers prefer flower over edibles and concentrates
- The number of medical cannabis patients in Israel exceeded 150,000 in 2022, making it one of the leading countries in medical cannabis use
- Approximately 20% of US cannabis consumers use cannabis daily, emphasizing the shift towards more habitual use
- Around 55% of US cannabis consumers prefer purchasing from licensed dispensaries rather than illegal sources, reflecting increasing legitimacy
- Approximately 75% of U.S. adults support legalizing marijuana, according to recent polls, indicating strong public support
Consumer Demographics and Usage Patterns Interpretation
Geography and Legal Status
- North America accounted for over 89% of the global cannabis market in 2022
- Medical cannabis is legal in 38 US states as of 2023
- Adult-use recreational cannabis is legal in 21 US states plus DC
- The top three states for cannabis sales in the US are California, Colorado, and Washington, collectively accounting for over 50% of total sales
Geography and Legal Status Interpretation
Market Trends and Product Insights
- The average retail price of legal cannabis in the US dropped by approximately 20% between 2021 and 2023
- Canada’s legal cannabis market saw a 33% increase in sales from 2021 to 2022
- THC content in legal cannabis in some states can range up to 35%, significantly higher than in illegal markets
- The number of cannabis-related academic research papers increased by over 150% between 2018 and 2022
- The percentage of Americans supporting marijuana legalization increased to 68% in 2023
- The majority of cannabis sales in Colorado are through dispensaries, with less than 10% through delivery services
- The average THC potency in legal cannabis products reached around 20% in 2023, up from 12% in 2018
- The number of cannabis startups worldwide increased by over 170% between 2019 and 2022
- The average shelf time of legal cannabis products in dispensaries is approximately 6 months, after which products are disposed of or repackaged
- The percentage of cannabis consumers who prefer organic products is around 60%, indicating growing consumer demand for organic cannabis
- The average price per gram of legal cannabis in the US was around $10 in 2023, down from approximately $12 in 2021
- The number of cannabis-related patents filed globally has increased by over 200% between 2018 and 2023, indicating innovation in the industry
- The average THC content in legal flower strains in the US increased from 14% in 2018 to 20% in 2023, showing a trend toward higher potency products
Market Trends and Product Insights Interpretation
Market Valuation and Industry Size
- The global legal cannabis market was valued at approximately $21.3 billion in 2022
- The legal cannabis industry in the US generated $27.6 billion in 2022, increasing from $17.5 billion in 2020
- The US cannabis market created approximately 428,059 new jobs in 2022
- Legal cannabis sales in Canada surpassed $3 billion CAD in 2022
- The global CBD market alone was valued at $9.1 billion in 2022, expected to grow rapidly
- The global medical cannabis market is projected to reach $61.4 billion by 2027, with a CAGR of 18.1%
- As of 2023, the number of cannabis licenses issued in the US is over 8,000, covering growers, processors, and retailers
- The number of registered medical cannabis patients in Germany reached over 120,000 in 2022
- The legal cannabis industry is projected to generate over $50 billion in economic output in the US by 2025
- The number of cannabis dispensaries in California exceeds 1,300 as of 2023
- The global industrial hemp market was valued at $4.6 billion in 2022 and expected to grow
- Cannabis advertising revenue in the US was estimated at over $4 billion in 2022
- The cannabis industry generated approximately $8 billion in tax revenue in the US in 2022
- The medical cannabis market in Asia-Pacific is projected to grow at a CAGR of over 17% from 2023 to 2030
- Cannabis wealth and investment funds have grown rapidly, with assets under management exceeding $1 billion in 2023
- The global edible cannabis product market was valued at $4.3 billion in 2022, expected to grow significantly
- In 2022, the global cannabis concentrate market was valued at $3.2 billion, showing strong growth potential
- The cannabis vaporizer market is expected to grow at a CAGR of 11% from 2023 to 2030, reaching over $5 billion globally
- The medical cannabis market in Latin America is projected to grow at a CAGR of 13% from 2023 to 2030, fueled by legalization efforts
- The legal cannabis industry’s total investment volume exceeded $4 billion globally in 2022, with the US leading the investments
- Overall, cannabis cultivation facilities worldwide produced over 4.5 million pounds of cannabis in 2022
- The CBD market in Europe was valued at about $2.1 billion in 2022 and is projected to grow at a CAGR of 24.4%
- The global medical cannabis market is expected to reach $61.4 billion by 2027, growing at a CAGR of 18.1%
- The number of cannabis dispensaries in the US increased by over 1,000 from 2020 to 2023, reflecting rapid industry expansion
Market Valuation and Industry Size Interpretation
Regulatory Environment and Law Enforcement
- The rate of cannabis-related arrests in the US decreased by approximately 61% from 2010 to 2022
- The US enforces approximately 560,000 cannabis-related arrests annually, although this number has declined significantly since 2010
Regulatory Environment and Law Enforcement Interpretation
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