From being a banned substance to becoming a billion-dollar industry, cannabis has sure gone a long way. The legalization of marijuana for recreational and medical purposes paved the way to its boom in the market. To show the facts and figures related to that, we have rounded up a series of interesting cannabis industry statistics.
This new green revolution opened countless opportunities both in employment and investment. It has also made an impact on the economy. There are even POS software now dedicated specifically for cannabis retail. So whether you’re planning to invest in this market or simply wants to know more, this compilation of cannabis industry data is for you.
Since its first legalization, the marijuana industry has been on the rise both for recreational and medical purposes. It has an above-average surge rate compared to other industries as more states and countries accept the product in their market. This cannabis industry growth statistics will illustrate not only how it has boomed throughout the years. But it will also show how big of a potential this field has.
The increasing popularity of cannabis products has made the data for cannabis industry market size more transparent. That is due to the increasing number of companies that studies its market potential. Here’s a set of statistics that shows how far the CBD industry has come:
Source: Fortune.comDesigned by
How much does an ounce of CBD costs? What is the expected figure when it comes to future sales of marijuana? How many sales were made in the US? We’ve compiled a series of statistics gained from various cannabis industry research reports to answer those and more.
The ascent of the marijuana industry has opened the door for jobs that haven’t existed before like master extractors and budtenders. Of course, there are also professions in the present that could find a new source of income from this market. Some of them, like web development and graphic design, are high-paying jobs that don’t require a degree. Ergo, this field has provided a good number of people with competitive jobs coupled with a competitive wage. Listed below is a set of cannabis industry employment statistics which illustrate these points:
Source: Glassdoor Economic ResearchDesigned by
The substance is still banned on the federal level. However, many states in the U.S. have already legalized marijuana for medical and recreational use. This is an important move because legalization is paired with the implementation of proper regulations. There are compliance management software that help businesses in adhering to the protocols too. Thanks to this, a state can enjoy its benefits while ensuring that cannabis isn’t abused in any way. Here are a few sets of statistics related to that subject:
Many believe that marijuana must be, like alcohol and cigarette, be regulated instead of banned. It’s a harmful substance when abused but when supervised, becomes a viable product of pleasure. The Netherlands, one of the countries with the highest tax rate, is a fine example. Recreational consumption of cannabis there is tolerated and was decriminalized. Consequently, here are some more interesting facts about recreational marijuana:
Source: Eaze InsightsDesigned by
Over 50% of the U.S. states have legalized the use of medical marijuana in various forms. Under strict regulation, it can be used for wellness purposes. It’s also being used as a treatment for some types of epilepsy. Here’s a series of stats to give more information regarding medical marijuana:
Various cannabis industry reports together with the statistics presented above point to one inevitable conclusion: this market is on the rise. It’s the combination of states legalizing them as well as the growth of CBD. The industry has gained momentum for the past few years and if the trend continues, figures can only go higher.
This is great news for those who want to make a business out of this. A great precaution, however, must be taken as this substance is still illegal on federal level. That’s why it’s a good idea for aspiring business owners to first make a thorough research. This’ll determine if their dispensary would grow with the industry or it’ll be burden with regulations. Also, a compliance management software is a good addition to their business tools.
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