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Cannabis tax revenue generated more than $2 billion in the U.S. last year and that could grow to $10 billion to $12 billion for states by 2030, exceeding tax revenue from alcohol, according to municipal-bond strategists at Barclays Plc. By 2030 sales should reach about $80 billion, the London-based bank estimates.
With cannabis legalization progressing across the globe, we are starting to see more stats about the multibillion-dollar industry that it encapsulates. While most studies focus on specific product niches and their projected growth, the 2023 Cannabis Global Price Index (23′ CGPI) offered a unique look at the cost of cannabis globally.
from 2020 to 2030 and generate revenue of $151.7 billion in 2030. 1 Global Chronic Pain Treatment Market Analysis and Growth Forecast Report 2020 – 2030. The global chronic pain treatment market is predicted to progress at a CAGR of 6.5% These statements relate to future events or future performance. 3 Psychol Res Behav Manag.
Cannabis use is increasing all around the world. The American marijuana industry was worth about $57 billion in 2023 and is projected to reach $444 billion by 2030, a staggering growth that reflects it as the fastest-growing industry anywhere in the world.
GM Insights projects that the market for mHealth products will grow at a 30% compound annual growth rate from $56 billion in 2020 to more than $805 billion by 2030. The reference data it collects and its constantly improving machine learning algorithms create a moat that prevents competitors from quickly stepping into the market.
Legalizing cannabis for adults has been a wise investment. billion in tax revenue from legal, adult-use cannabis sales. billion in tax revenue from legal, adult-use cannabis sales. Eight of the laws were approved in 2020 or 2021, and in seven of those states, sales and tax collections have not yet begun. Colorado (pop.
Oregons cannabis industry faced a big question last November: should it be easier for cannabis workers to unionize? Thats what Ballot Measure 119 is all about: a law that requires cannabis businesses to allow employees the chance to unionize without interference. Background on Labor Unions in the U.S. Labor unions in the U.S.
An agreement signed last month between the New Mexico Taxation and Revenue Department and Picuris Pueblo formally recognized the tribe’s authority to administer its own tax program in relation to cannabis. The state also signed a tax agreement with Pojoaque Pueblo.
In addition to revenue generated for statewide budgets, cities and towns have also generated hundreds of thousands of dollars in new revenue from local adult-use cannabis taxes. Eighteen states have enacted laws legalizing, taxing, and regulating cannabis for adults 21 and older. Estimated State Tax Revenue from Adult-Use Cannabis 3.
In my previous Medics Series , I tackled the tip of the iceberg on this prescient issue facing cannabis companies across the states when I asked the question: “ What about sustainability in the Florida cannabis industry? Sustainable Gardening Practices for Growing Cannabis. Strains & products.
According to the Lancet Commission, mental health disorders are on the rise in every country worldwide, and the resulting lost productivity will cost the global economy $16 trillion by 2030. Investors may want to take a closer look at the stock as it continues to collect complete reference records ahead of its launch late this year.
i] rePlant Hemp Advisors, LLC aims to place $500 million in the space by 2030, with the Fund’s first close set at $75 million. CMO Wilson Kello led Collective Growth Corporation with Mr. Whaling, a SPAC which combined on April 5, 2021 with Innoviz Technologies in a $1.4 Asset Management U.S., billion transaction.
a global leader in acquiring and collecting nonperforming loans, and as an advisor to MissionOG, a venture capital firm. Altria’s Vision by 2030 is to responsibly lead the transition of adult smokers to a smoke-free future (Vision). She currently serves as a director of PRA Group, Inc., Altria’s Profile. tobacco consumers age 21+.
billion by 2030, growing at a CAGR of 8.4% from 2021 to 2030. Tests include on-site rapid antigen (results in under 20 minutes) and on-site RT-PCR sample collection (results in 24 hours). billion (2020). The renewable clean energy market is projected to reach $1,977.6
CPA’s” PUBLISHER: CANNABIS LAW REPORT. Numerous attempts to introduce legislation to relax the provisions that placed cannabis on Schedule I of the Controlled Substances Act [“CSA”] have been made beginning in 1981 [i]. State-compliant cannabis activity would no longer violate federal criminal law. 3032 and H.R.
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