Sales of legal cannabis in the USA are projected to reach $33 billion in 2024, according to a new report published by cannabis business specialists MJ Biz Daily. If sales of cannabis continue as they are this year they will outstrip sales of beef and even outperform sales of movie tickets and potato chips combined.
As more US states legalise either the use of medical cannabis, or both medical and adult-use cannabis, sales through state-legalised dispensaries have risen. In 202 there were an estimated $30bn of cannabis sales, this year the projected figure is $32.1 and $38.4bn according to projections from MJ Biz Daily.
Those figures would put sales of cannabis at around the same level as distilled spirits, and spending on Mother’s Day.
In March, leafie reported how sales of legal cannabis in Canada have coincided with a fall in the beer market. Sales of beer in Canada have been falling steadily since weed was legalised in 2018, and they continue to fall. However, this is not the case for distilled spirits.
Sales are predicted to reach almost $57bn in the USA by 2028, with a huge amount of money going to the state in taxes. Marijuana Moment reported last month that states have received over $20bn in tax revenue since the first legal cannabis market was opened. This figure would increase with the forecasted rise in sales, especially as more states make the change to legal markets.
This story first appeared on leafie, view here
Author: Kevin Dinneen
