As the global perception towards cannabis continues to shift, the cannabis industry has become one of the fastest-growing and most dynamic sectors in the world. With the increasing legalization of marijuana across the world, the cannabis industry has seen exponential growth in recent years, from medicinal and recreational use to industrial applications. In this article, we will explore 30 trending statistics about the cannabis industry.
- In 2021, the global legal cannabis market was valued at USD 23.9 billion, representing a YoY growth rate of 16.3% from 2020.
- According to a report by New Frontier Data, the legal cannabis market in the United States is projected to reach $41.5 billion by 2025.
- In 2021, the global cannabis edibles market was valued at USD 4.9 billion, with an expected CAGR of 16.9% from 2021 to 2028.
- According to a report by Grand View Research, the global medical cannabis market is expected to reach USD 55.8 billion by 2028, growing at a CAGR of 26.7% from 2021 to 2028.
- The number of cannabis jobs in the United States increased by 32% in 2020, reaching a total of 321,000 full-time jobs.
- In 2021, the United States accounted for 94% of global legal cannabis sales, with Canada and Europe representing the remaining 6%.
- The global CBD market is projected to reach USD 23.6 billion by 2025, growing at a CAGR of 22.2% from 2021 to 2025.
- According to a report by Mordor Intelligence, the global legal cannabis market is expected to reach USD 97.35 billion by 2026, growing at a CAGR of 28% from 2021 to 2026.
- In 2021, the top five states for legal cannabis sales in the United States were California, Colorado, Oregon, Washington, and Illinois.
- Average retail cannabis prices have fallen approximately 20%.
- The U.S. will generate more cannabis revenue than any other country in 2023.
- Curaleaf is currently the largest cannabis company by market cap at $2.57 billion
- Cannabis is dioecious, which means that it produces male and female flowers on separate plants. Female plants are the ones that produce the high-THC buds that are typically used for recreational and medical purposes.
- The scent of certain strains of cannabis is often described as "skunky" due to the presence of a terpene called mercene, which is also found in high concentrations in mangoes.
- In some cultures, cannabis is used in religious ceremonies, such as the Rastafarian movement in Jamaica, where it is seen as a sacrament and a tool for meditation.
- The longest joint ever rolled was over 45 feet long, earning a place in the Guinness World Records.
- 62% of Gen Z investors report investing in cannabis/marijuana stocks
- In some countries, such as India and Nepal, cannabis is used in traditional medicine to treat a variety of ailments, including pain, nausea, and anxiety.
- Young adults are more likely to try cannabis over cigarettes.
- 60% of cannabis consumers consider THC potency the leading factor when purchasing cannabis.
- 88% of adults want to legalize weed.
- 37% of consumers use cannabis with workout routines.
- Marijuana-infused beverages are gaining popularity, with a 45% jump in year-over-year growth in 2021.
- As of 2020, the average square footage for cannabis production space was 36,300 sq ft, up from an average of 18,200 sq ft in 2016.
- Oklahoma has the most dispensaries of any state, with 2,264 as of June 2021.
- On average, it costs approximately $800,000 to start a cannabis dispensary.
- On average, people try marijuana for the first time at age 19.
- Morocco is the largest producer of marijuana in the world.
- There are 1,200 slang words for cannabis.
- Cannabis can be used in construction.