U.S. Legal Cannabis Market Growth
Increases in State-Issued Hemp Licenses
September 1, 2019
Trends Emerge and Converge as Two-Thirds of Americans Gain Access to Legalized Forms of Cannabis
September 8, 2019
- Overall sales within the legalized U.S. cannabis industry are expected to reach $13.6 billion throughout 2019, for a 32% increase over 2018 totals worth $10.3 billion.
- Total combined legal sales throughout the (33) current states with legalized medical programs and (11) legal adult-use programs are projected to grow at a compound annual growth rate (CAGR) of 14%, to reach $30 billion by 2025
- Combined U.S. sales of medical cannabis are projected for a 17% CAGR, from $4.4 billion in 2018 to $13.1 billion in 2025.
- Meantime, total legal adult-use sales are projected for a 16% CAGR, from $5.9 billion in 2018 to $16.6 billion in 2025.
- While total sales of illicit cannabis nationwide were worth an estimated $64.3 billion in 2018, projections call for the U.S. illicit market to reduce by nearly $7 billion (11%) by 2025.
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