U.S. Legal Cannabis Market Growth
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.