With 10 newly legalized states slated to begin selling cannabis in 2021 or 2022, the legal market is projected to pull in $43 billion by 2025.
The report finds that 141 million Americans, or 43% of the adult population, reside in 18 adult-use states, “representing a diverse and widely distributed consumer base for retailers to segment and target.” And by 2025, 42% of the total annual U.S.
As more states legalize and cannabis consumption increases, investor confidence has also grown.
Yet, with or without legalization, the market, which encompasses all consumer spending on cannabis, is growing exponentially, said Kacey Morrisey, senior director of industry analytics for New Frontier Data.
“Despite the recent legalization in some densely populated states like New York and New Jersey, the majority of the U.S.
Expensive products help fuel the black market, added Morrisey, as well as an increase in supply.
I’m the author of “Great Producers: Visionaries of the American Theater,” published by Allworth Press/Skyhorse in August 2008; “An Epiphany in Lilacs: In the Aftermath of the Camps,” originally published by Mazo Publishers in January 2017; and “Sentenced to Shakespeare,” a contemporary young adult/crossover novel published by Sunbury Press/Milford House Press in 2019.