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New Frontier Data’s latest report, Cannabis in the U.S. 2021 Mid-Year Market Update, provides an update on expanding legalization efforts nationwide and the trajectory of the industry in 2021 and beyond.
Key Report Findings:
- By 2025, 42% of total annual U.S. cannabis demand is projected to be met by legal purchases in regulated marketplaces, up from 24% in 2020, fueled by both a continued rise in legal market spending as well as the conversion of existing illicit market consumer spending to legal regulated sources.
- 141 million Americans, or 43% of the adult population, reside in 18 adult-use states, representing a diverse and widely distributed consumer base for retailers to segment and target.
- By 2025, 5.4 million Americans, or 2.4% of U.S. adults will be registered patients in medical cannabis states.
- As of May 2021, capital raises in cannabis have more than tripled, reaching $6 billion, signaling increased confidence in projected aggressive cannabis market growth.