U.S. Cannabis Consumer Shopping
January 27, 2019
Updated Projections as Lawmakers Look for Federal Legalization in 2019
February 3, 2019U.S. Cannabis Consumer Shopping
January 27, 2019Updated Projections as Lawmakers Look for Federal Legalization in 2019
February 3, 2019
- New Frontier Data’s latest U.S. cannabis market forecast shows currently legal medical and adult markets growing from $12.9 billion in 2019 to $20.4 billion in 2022.
- Nationwide spending on illicit cannabis will grow from $27 billion to $28.1 billion (based on the growth trend of American cannabis consumers).
- Adult-use sales in the 10 currently legal states will grow to nearly half (49%) of the legal market, and 1/5 of the total market (21%), as those consumers continue migrating from illicit markets to legal ones.
- Wider choices for products available in regulated markets — with surging demand for higher-priced, non-flower products (e.g., concentrates, edibles, topicals, etc.) — have added to higher spending per consumer in legal markets than in illicit markets.
- Thus, as more states legalize, and demand for non-flower products continues to surge, the total potential for a fully legal U.S. market is higher yet than the combined $48.5 billion spending forecast for 2022 under the current regulatory system.
