Cannabis Market Growing 17.8 Percent Yearly

[doitvoluntarily]

In 2019 it was estimated that the worldwide cannabis market was valued [around $17.5 billion.

And still today, throughout this year, the cannabis industry has continued to see significant growth.

One of the most popular items in the cannabis market still today is cannabis flower, the preferred method of consumption for millions. But cannabis edibles are seeing rapid growth too, along with dozens of other products in the market.

By 2027 it is estimated that the worldwide cannabis market might surpass $65 billion. This means it would see at least 17.8 percent growth on average per year for the next several years.

The United States market alone is bringing in more than $10 billion for the cannabis industry worldwide yearly, and that is despite federal criminalization which still exists, and several states that have yet to embrace decriminalization or legalization of any sort.

By 2024 the cannabis sales for cannabis are expected to reach at least $37 billion or more and that could easily come a lot sooner if more regions look to reduce their restrictions surrounding this plant and activities involving cannabis.

Previous investigations have found that on average people are spending about $25-$50 when they go to the store to shop for some cannabis goods, and many will even spend less than $10 on their visit to the store.

But depending on what region they are in that $10 probably isn't going to get them much more than 1 joint or 1 gram of cannabis. Very few, about 8.2 percent, had been found to spend more than $100 on their cannabis dispensary trip.

Cannabis use with seniors in the U.S. has grown 75% in just three years

From 18 years old to those 65+ and older, cannabis is being used by millions for dozens of different reasons, there is a growing list today of diseases that people are turning to cannabis to try and find some remedy from. Whether that be seniors battling the aches and pains of old age, or veterans looking for help with PTSD and other issues, children using it for seizures and epilepsy, the versatility in what this plant can do as far as providing people value in the market is undeniably impressive.

Pics:
pixabay

Comments

[elikast]

@tipu curate

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