U.S. Cannabis Industry Market Projections Up 20% to $30 Billion by 2025 says New Frontier Data
WASHINGTON - September 17, 2019 (Investorideas.com Newswire) New Frontier Data, the global authority in data, analytics and business intelligence for the cannabis industry, in partnership with Global Cannabinoids, a leading producer, manufacturer and distributor of American-Grown Hemp-Derived Cannabinoids in the U.S., releases The U.S. Cannabis Report 2019 Industry Outlook. The report examines U.S. cannabis industry forecasts and trends, including industry revenue projections, illicit market sizing, cannabis consumer behavior, and potential interaction with the opioids market in the U.S.
Key findings include:
Total legal sales of cannabis in current legal states are projected to grow at a compound annual growth rate (CAGR) of 14% over the next six years, to reach nearly $30 billion by 2025
Annual sales of medical cannabis are projected to grow at a 17% CAGR through 2025, to an estimated $13.1 billion by 2025; adult-use sales are projected to grow at a 16% CAGR, to $16.6 billion
An estimated 38.4 million U.S. adults consume cannabis at least once annually, from either a legal or illicit source
36% of cannabis consumers report using cannabis daily, and 59% use cannabis at least once a week
People between the ages of 25 and 44 comprise 45% of cannabis consumers
"We tend to be cautious, if not conservative in our projections, adhering to very rigorous data sourcing and data modeling protocols, so it is significant that we raised our 2025 forecast in U.S. legal sales to $30 billion. Foreign investment into the U.S. cannabis industry remains strong and domestic consumption continues to rise, especially as new states legalize. That said, it is critical for stakeholders to understand how regulatory uncertainty, lack of accepted standards, and international market pressures may have a material and lasting economic impact in the currently flourishing U.S. cannabis market," said New Frontier Data Founder and CEO Giadha Aguirre de Carcer. "Whether an operator, researcher, or investor, I would encourage those interested in expanding their understanding of the domestic cannabis market, to also look at New Frontier Data's Canadian and Global reports, as market dynamics, trends and driving forces are beginning to cross borders."
Visit https://newfrontierdata.com/UScannabis2019 to download the report.
About New Frontier Data:
New Frontier Data is an independent, technology-driven analytics company specializing in the cannabis industry. It offers vetted data, actionable business intelligence and risk management solutions for investors, operators, researchers and policymakers. New Frontier Data's reports and data have been cited in over 80 countries around the world to inform industry leaders. Founded in 2014, New Frontier Data is headquartered in Washington, D.C. with additional offices in Denver, CO, and London, U.K.
New Frontier Data does not take a position on the merits of cannabis legalization. Rather, its mission and mandate are to inform cannabis-related policy and business decisions through rigorous, issue-neutral and comprehensive analysis of the legal cannabis industry worldwide. For more information about New Frontier Data, please visit: https://www.NewFrontierData.com.
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