25 Unbelievable Facts About the Cannabis Industry
The cannabis industry is growing and growing every year. If you are looking to get into the cannabis industry, now is a good time.
In 2018, cannabis and marijuana sales are expected to reach an all-time high. Its an exciting time in the cannabis industry so we wanted to create an ultimate and unbelievable article about some insane facts about the cannabis industry.
Whether you are doing research on the industry or you just want to see some really cool facts, here are 25 unbelievable statistics about the cannabis industry:
1. In 2016, Americans spend $53 million in legal and illegal cannabis.
2. 60% of Americans support marijuana legalization.
3. The cannabis industry already employs 100,000 to 150,000 workers and nearly 90,000 are in plant-touching companies.
5. In 2017, legal Marijuana sales were over $9 billion.
6. The Cannabis Industry employed over 121,000 people in 2017.
7. In 2017, the cannabis industry paid a total of $1.4 billion dollars in taxes.
8. The CBD Industry is expected to grow $1.1 billion by 2020 and almost $2 billion by 2022.
9. Back in 2010, law enforcement officials estimated that the US black market in marijuana was worth $41 Billion.
10. By 2023, medical and recreational cannabis will be higher than $20 billion before hitting $24 billion in 2025.
11. In 2016, Colorado sold $1.3 billion dollars of cannabis and marijuana products.
12. By 2021, the projected revenue of legal marijuana sales will exceed $20 billion.
13. In Canada, there are over 130,000 registered marijuana users.
14. By 2026, legal cannabis sales are expected to exceed $50 billion while the illegal sales of marijuana is going to decrease to less the $1 billion.
15. Currently. in 2018, 10 states have recreational cannabis.
16. About 700,000 people are arrested annually on marijuana-related charges.
17. There are more than 25,000 product applications for industrial hemp — and countless more.
18. The first e-commerce transaction was a marijuana sale.
19. According to a report by the International Narcotics Control Board, over 1,000 tonnes of marijuana is seized by United States security agents along the US / Mexico border each year.
20. About 40% of the weed sold in the state of Colorado is off the books.
21. A report from the Cato Institute points out just how expensive the War on Drugs is – and how much could be generated just from legalizing marijuana. $8.7 billion would be saved by not prosecuting marijuana offenders, not to mention the over $10 billion that would be generated in tax revenue at the federal level.
22. While about half the country has some form of legal marijuana, from medical use only to completely available to all adults, it’s still completely illegal in 27 states.
23. According to industry research, a full 36 percent of marijuana company CEOs are women – compared to just 22 percent in the rest of the business world.
24. While marijuana is legal in some form in 23 states, it’s California that sells the lion’s share of marijuana – 49 percent of all sales in 2014.
25. Revenue for the legal cannabis industry was $10 billion in 2017.
Medical Marijuana Sales by State 2018
Recreational Marijuana Sales by State 2018
Just looking at these numbers, there is big money in the cannabis industry and its the perfect time to get in. You don’t even need to sell marijuana or start a dispensary.
You can simply create labels for marijuana bottles, sell accessories or even start a marijuana podcast and make affiliate money selling products in your show. There are literally thousands of ways you can get into the cannabis industry in 2018.
Tyler Horvath is a serial entrepreneur, digital marketing expert and King of Search Engine Optimization, with over 15 years experience building traffic online.