2018 Cannabis Highlights
2018 Cannabis Highlights by Numbers
Nearly $2 billion
With CBD sales in the U.S. are expected to reach $534 million in 2018, growing to nearly $2 billion by 2022.
More Than 30 Countries
The global cannabis market is expanding rapidly, with Canada having joined Uruguay as the first countries to legalize adult-use markets; more than 30 countries have some form of legal cannabis.
In 2018, the number of plant-touching jobs in cannabis (not including hemp) reached 259,000 – on pace to surpass 500,000 jobs by 2022.
Total U.S. sales of legalized adult-use and medical cannabis is expected to reach $10.4 billion in 2018, and reach $26.3 billion by 2025.
Investment in the North American cannabis industry during 2018 reached $10.1 billion before cigarette-maker Altria Group’s $1.8 billion buy-in this month for Canada-based Cronos Group.
Hemp is being cultivated for commercial purposes or research in nearly four dozen countries.
With $15.5 billion being spent in the U.S. throughout 2018 for prescription drugs to address chronic pain, pain medication spending is expected to increase by 13% from 2016-2019, versus an 11% decrease in spending by U.S. medical cannabis markets compared to non-legal markets.
Despite winners among individual companies, 2018 saw a -15.05% overall decline in U.S. cannabis stocks (Source: WeedEx U.S. Market Tracker, from Jan. 1-Dec. 7, 2018).