As we inch ever so slowly to banking reform, interstate commerce, and federal legalization of cannabis, it’s a perfect time to take a look at the history of cannabis and how far the legal industry has come. In 2023, the legal cannabis industry has grown to generate billions of dollars in annual sales, and it has created hundreds of thousands of jobs across the United States. 

Thousands of businesses have launched working in the cannabis industry and providing products and services to the cannabis industry. In addition, existing non-cannabis businesses have expanded and extended their offerings so they could serve the cannabis industry. 

Bottom-line, the cannabis industry has had far-reaching effects in the United States and around the world. Let’s take a look at more than 50 cannabis industry statistics and data points to put some of these effects into perspective.

Cannabis and the Global Economy 

How has cannabis legalization affected global economies? Here’s the data:

• Global cannabis market revenue is expected to reach $51.28 billion in 2023. [Source: Statista – Cannabis Worldwide]
• Global revenue from cannabis is projected to have an annual growth rate (CAGR) between 2023 and 2027 of 15.77%. [Source: Statista – Cannabis Worldwide]
• Global cannabis market revenue is projected to reach $92.1 billion by 2027. [Source: Statista – Cannabis Worldwide]
• Global per person cannabis revenue in 2023 is $77.03. [Source: Statista – Cannabis Worldwide]
• The top five countries with the highest cannabis revenue in 2023 are: 1) United States, 2) Canada, 3) Netherlands, 4) Germany, and 5) Thailand. [Source: Statista – Cannabis Worldwide]

Cannabis and the U.S. Economy (Including Jobs)

The statistics below explain how the cannabis industry impacts the U.S. economy:

• U.S. cannabis market revenue is expected to reach $33.88 billion in 2023. [Source: Statista Cannabis United States]
• U.S. revenue from cannabis is projected to have an annual growth rate (CAGR) between 2023 and 2027 of 15.43%. [Source: Statista Cannabis United States]
• U.S. cannabis market revenue is projected to reach $60.14 billion by 2027. [Source: Statista Cannabis United States]
• U.S. per person cannabis revenue in 2023 is $460. [Source: Statista Cannabis United States]
• For every $10 that consumers and patients spend at legal cannabis retail and dispensary locations, an additional $18 is injected into the U.S. economy, and most of that money is at the local level. [Source: MJBiz Factbook 2023]
• 417,493 full-time equivalent jobs are supported by the legal U.S. cannabis industry as of early 2023. [Source: Vangst Jobs Report 2023]
• In the U.S., 31% of cannabis jobs are in cultivation, 23% in retail, 20% in ancillary and indirect jobs, 17% in manufacturing, 7% in wholesaling, 2% in distribution, and less than 1% in lab testing. [Source: Vangst Jobs Report 2023]
• California has more than twice as many cannabis industry jobs (83,593) than the state with the second highest number of cannabis jobs – Michigan (35,405). [Source: Vangst Jobs Report 2023]

Cannabis Politics

What’s happening at the federal and state levels in the U.S.? Here are some current statistics:

• 21 states and Washington, D.C. have legalized adult-use cannabis. [Source: National Cannabis Industry Association (NCIA)]
• 17 states have legalized medical cannabis but not adult-use. [Source: National Cannabis Industry Association (NCIA)]
• 9 states allow extremely limited cannabis use (low THC, high CBD) and have no regulated markets. [Source: National Cannabis Industry Association (NCIA)]
• 3 states have not legalized cannabis in any form. [Source: National Cannabis Industry Association (NCIA)]
• There are currently 4 cannabis legalization bills in Congress. [Source: Marijuana Policy Project]
• There are currently 8 incremental cannabis reform bills in Congress. [Source: Marijuana Policy Project]

Cannabis Consumers in the United States 

Cannabis consumers in the U.S. are evolving. Here’s what the data says:

• Millennial consumers account for 46.2% of tracked sales in the U.S. followed by Generation X consumers (23.9%), Generation Z consumers (16.8%), and Baby Boomer consumers (13.1%). [Source: Headset Demographics Report 2023]
• U.S. Baby Boomer, Generation X, and Millennial consumers are most likely to buy flower products (42.5%, 40.25%, and 39.4%, respectively). U.S. Generation Z consumers are most likely to buy vapor pens (33.6%) followed closely by flower products (33.3%). [Source: Headset Demographics Report 2023]
• In the U.S., male consumers account for 66.24% of all cannabis sales, and female consumers account for 33.8%. [Source: Headset Demographics Report 2023]
• Half of every dollar spent in the U.S. on cannabis topical products during the first two months of 2023 came from female consumers (50.2%). [Source: Headset Demographics Report 2023]

Cannabis Consumers in Canada 

Just like in the U.S., the data shows that Canadian cannabis consumers are changing with the times:

• Millennial consumers account for 50.3% of tracked cannabis sales in Canada followed by Generation Z consumers (21.8%), Generation X consumers (20.6%), and Baby Boomer consumers (7.3%). [Source: Headset Demographics Report 2023]
• Canada’s Baby Boomer, Generation X, Millennial, and Generation Z consumers are most likely to buy flower products (41.9%, 37.1%, 39.5%, and 36.1%, respectively). However, Canada’s Generation Z consumers are more likely than any other age group to buy vapor pens (27.4%). [Source: Headset Demographics Report 2023]
• In Canada, male consumers account for 62.5% of all cannabis sales, and female consumers account for 37.5%. [Source: Headset Demographics Report 2023]

Cannabis and Public Perception in the United States

We’ve come a long way in the legal cannabis industry, but it’s taken a long time to get here:

• 68% of U.S. adults believe cannabis use should be legal (up from 12% in 1969). [Source: October 2022 Gallup Poll]
• Demographic groups whose support for legalization exceeds the national average by 10 or more percentage points include: 1) Those with no religious preference (89% support legalization), 2) Self-identified liberals (84%), 3) Democrats (81%), 4) Young adults (79%), and those who seldom or never attend religious services (78%). [Source: October 2022 Gallup Poll]
• Demographic groups whose support for legalization is at least 10 points below the national average include: 1) Those who attend church weekly (46% support legalization), 2) Conservatives (49%), 3) Republicans (51%), 4) Older adults (53%), and Hispanic adults (56%). [Source: October 2022 Gallup Poll]

Cannabis Sales in the United States

Cannabis sales in the United States continue to grow. Check out the statistics below for perspective:

• U.S. cannabis sales for 2023 are estimated at $33.6 billion. [Source: MJBiz Factbook 2023]
• U.S. adult-use cannabis sales for 2023 are estimated at $22.5 billion. [Source: MJBiz Factbook 2023]
• U.S. medical cannabis sales for 2023 are estimated at $11.1 billion. [Source: MJBiz Factbook 2023]
• U.S. cannabis sales for 2028 are projected to be $56.9 billion. [Source: MJBiz Factbook 2023]
• U.S. adult-use cannabis sales for 2028 are projected to be $42.8 billion. [Source: MJBiz Factbook 2023]
• U.S. medical cannabis sales for 2028 are projected to be $14.1 billion. [Source: MJBiz Factbook 2023]

Cannabis Licenses and Point-of-Sale Software

How many cannabis licenses have been awarded? How many are active? Which point-of-sale (POS) software platforms are cannabis businesses using? Here’s the data from Cannabiz Media:

• Cannabiz Media reports there are 42,187 active individual U.S. cannabis licenses as of May 9, 2023. [Source: Cannabiz Media License Database]
• Cannabiz Media reports there are 4,890 active individual cannabis licenses in Canada as of May 9, 2023. [Source: Cannabiz Media License Database]
• At the start of 2023, there were 79 cannabis industry point-of-sale software providers in the U.S. and 53 in Canada. [Source: Cannabiz Media Point-of-Sale Software in the Cannabis Industry – 2022 Report]
• 15 POS software companies compete in both the U.S. and Canada. [Source: Cannabiz Media Point-of-Sale Software in the Cannabis Industry – 2022 Report]
• Combined, the top five POS software providers in the U.S. hold 60% market share. [Source: Cannabiz Media Point-of-Sale Software in the Cannabis Industry – 2022 Report]
• Combined, the top two POS software providers in Canada hold 73% market share. [Source: Cannabiz Media Point-of-Sale Software in the Cannabis Industry – 2022 Report]

Key Takeaways about Cannabis Industry Statistics and Data

Despite the challenges businesses and consumers in the cannabis industry face, the data proves that things are slowly changing for the better. An October 2022 Pew Research Center poll found that just one in 10 American adults (10%) think cannabis should not be legal for any kind of use (medical and/or adult-use).

The key takeaway is this – you can’t stop progress, and there is no stopping the forward momentum of the cannabis industry. Yes, there may be obstacles, but progress will continue.

To stay current on cannabis industry licensing, point-of-sale software, and other market data in the U.S., Canada, and global markets, subscribe to the Cannabiz Media License Database. Schedule a demo to see how it can help your organization grow.

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