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New Frontier Data’s annual market update, 2022 U.S. Cannabis Report: Industry Projections & Trends, provides expert analysis of the drivers shaping the U.S. cannabis economy including potential state market activations, consumption trends, product innovation, and sustainability efforts.
Key Insights:
- Self-reported usage rates have risen sharply since 2012, and if this is sustained, the number of U.S. consumers will grow from 47 million in 2020 to 71 million by 2030.
- U.S. medical markets continue to expand, with the number of registered patients forecast to increase to 5.7 million in 2030 (1.6% of the adult population).
- Assuming legalization in all 18 potential markets by 2030, 47% of total demand would be met by the legal cannabis purchases, up from 27% in 2021, indicating continued disruption of illicit markets.
- Despite strong state-level momentum, the near-term prospects for federal reform are dim, but a limited measure, like cannabis banking reform, is possible following the 2022 mid-term elections.
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