Report Shows Huge Growth in Cannabis Sales
Posted by Marijuana Doctors on 10/02/2019 in Medical Marijuana
Updated on January 21, 2020.
Medical content reviewed by Dr. Joseph Rosado, MD, M.B.A, Chief Medical Officer
The new US Cannabis Report 2019 Industry Outlook, released this week, projects that annual sales of medical cannabis will grow by 17% a year, reaching about $13 billion by 2025. Total legal cannabis sales are projected to reach $30 billion.
Washington, D.C.-based cannabis researcher New Frontier Data produced the report, according to an article on Forbes.com. Nearly 40 million US adults use cannabis at least once a year, according to the report. Of those, 36% use cannabis every day, and 59% use cannabis at least once a week. Young adults age 25-44 make up 45% of cannabis consumers.