GITNUX MARKETDATA REPORT 2024

Global Cannabis Industry Statistics

The global cannabis industry is expected to experience significant growth over the coming years, with projections indicating booming market value and increasing acceptance of cannabis products worldwide.

With sources from: marijuana-as-medicine.org, medicalnewstoday.com, statista.com, warc.com and many more

Statistic 1

The global legal cannabis market could be worth USD 103.9 billion by 2024.

Statistic 2

The compound annual growth rate (CAGR) of the global cannabis market is projected to be 21.1% from 2019 to 2025.

Statistic 3

In 2019, the U.S. was the leading consumer of cannabis with over 90% of the market share.

Statistic 4

Medical cannabis dominated the market in 2017 with a revenue of approximately 7.3 billion.

Statistic 5

The global industrial hemp market was valued at about 4.71 billion in 2019.

Statistic 6

Canada's cannabis market is predicted to reach $5.2 billion by 2024.

Statistic 7

California is the largest legal cannabis market in the world, with sales of $3.1 billion in 2019.

Statistic 8

By 2025, global legal marijuana market is expected to reach $66.3 billion.

Statistic 9

Cannabis plants are grown in over 150 countries around the world.

Statistic 10

Global cannabis extracts market was valued at USD 7.3 billion in 2019.

Statistic 11

In 2020, revenue in the cannabis segment was projected to reach $20,737.0 million.

Statistic 12

As of 2021, approximately 263 million people worldwide are cannabis users.

Statistic 13

The number of cannabis businesses in the U.S. increased by nearly 50% in 2019.

Statistic 14

The Asia Pacific cannabis market is estimated to grow at the highest CAGR of 25.5% from 2021 to 2028.

Statistic 15

More than 50% of the world's legal cannabis is consumed in North America.

Statistic 16

20% of the world's population could have access to legal cannabis by 2025.

Statistic 17

In 2020, legal sales of adult-use cannabis in Canada reached an estimated $2.6 billion.

Statistic 18

In 2021, the estimated number of cannabis jobs is 321,000 in the U.S.

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In this post, we will explore the rapidly evolving landscape of the global cannabis industry, backed by a range of compelling statistics. From the staggering projected market values to key consumption patterns and emerging trends, the data paints a vivid picture of an industry on the brink of significant transformation and growth.

Statistic 1

"The global legal cannabis market could be worth USD 103.9 billion by 2024."

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Statistic 2

"The compound annual growth rate (CAGR) of the global cannabis market is projected to be 21.1% from 2019 to 2025."

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Statistic 3

"In 2019, the U.S. was the leading consumer of cannabis with over 90% of the market share."

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Statistic 4

"Medical cannabis dominated the market in 2017 with a revenue of approximately 7.3 billion."

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Statistic 5

"The global industrial hemp market was valued at about 4.71 billion in 2019."

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Statistic 6

"Canada's cannabis market is predicted to reach $5.2 billion by 2024."

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Statistic 7

"California is the largest legal cannabis market in the world, with sales of $3.1 billion in 2019."

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Statistic 8

"By 2025, global legal marijuana market is expected to reach $66.3 billion."

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Statistic 9

"Cannabis plants are grown in over 150 countries around the world."

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Statistic 10

"Global cannabis extracts market was valued at USD 7.3 billion in 2019."

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Statistic 11

"In 2020, revenue in the cannabis segment was projected to reach $20,737.0 million."

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Statistic 12

"As of 2021, approximately 263 million people worldwide are cannabis users."

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Statistic 13

"The number of cannabis businesses in the U.S. increased by nearly 50% in 2019."

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Statistic 14

"The Asia Pacific cannabis market is estimated to grow at the highest CAGR of 25.5% from 2021 to 2028."

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Statistic 15

"More than 50% of the world's legal cannabis is consumed in North America."

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Statistic 16

"20% of the world's population could have access to legal cannabis by 2025."

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Statistic 17

"In 2020, legal sales of adult-use cannabis in Canada reached an estimated $2.6 billion."

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Statistic 18

"In 2021, the estimated number of cannabis jobs is 321,000 in the U.S."

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Interpretation

The statistics presented clearly indicate the massive growth and potential of the global cannabis industry. With projections of the market reaching over $100 billion by 2024 and a compound annual growth rate of 21.1%, it is evident that the industry is expanding rapidly. The dominance of the U.S. as the leading consumer, along with key players like Canada and California making significant contributions to the market, further solidifies the industry's position. The increasing number of cannabis users globally, combined with the rise in cannabis businesses and job opportunities, highlight the economic opportunities within the industry. The statistics also point towards shifting trends in consumer behavior and market dynamics, with regions like Asia Pacific showing remarkable growth potential. Overall, the data signifies a thriving and evolving global cannabis market that is set to continue its upward trajectory in the coming years.

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