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With cannabis legalization progressing across the globe, we are starting to see more stats about the multibillion-dollar industry that it encapsulates. Additionally, nations representing all levels of legality — from countries with full-on black markets to those with legal cannabis and even those with gray markets — were included.
The Alaska Department of Labor foresees marijuana cultivation steering all of the state’s industries regarding job growth between now and 2030. Alaska’s Cannabis Industry Is on a Steady Incline The people of Alaska have been indulged with legal marijuana since Nov. The report also highlighted an increase in edible consumption.
DUBLIN–(BUSINESS WIRE)–The “Global Cannabis Market- Market Size & Forecast to 2030” report has been added to ResearchAndMarkets.com’s offering. million by 2030 at a CAGR of 23.9%, 2021-2030. Growing Legalization of Medical Cannabis in Various Countries. Legalization. Restraints.
Some states that have legalized recreational marijuana have nonetheless put consumers in a difficult situation, one in which they may be unintentionally violating the law. One of these states, New Mexico, has offered a solution in the form of “cannabis consumption areas,” which allow patrons to consume marijuana on-site.
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. California was the first state to legalize medicinal cannabis in 1996, right around the time that Gen Z began to enter society.
The popularity of cannabis use within the EU is predicted to grow, positioning Europe to become the largest legal cannabis market in the next 5 years. Europe is also reported to have the highest global rates of cannabis consumption with France accounting for the majority as 11% of its population consumes cannabis regularly.
The potency of those products varies and can be unpredictable – some jurisdictions where cannabis use is legalized set no limit on THC content – and may be a public health concern. Products now on sale include cannabis flower, pre-rolled joints, vaporizers, concentrates and edibles. Policy Implications.
The fastest growing segment of synthetic fiber consumption is polyester, with a recorded demand of 55.2 “ As a nascent (legal) consumer industry, the cannabis industry has a chance to invent itself from the ground up in the image of modern-day social, economic, and environmental sustainability. million tons in 2014.
Changes in laws, regulatory measures, or governmental policies – especially those that affect the production, importation, marketing, labeling, pricing, distribution, sale, or consumption of our beverage alcohol products. Significant legal disputes and proceedings, or government investigations. Our Sustainability Roadmap.
Did you know that the size of the legal global marijuana market in 2021 was valued at $13.2 between 2022 and 2030. These numbers show just how popular legal marijuana is these days and how much more popular it is likely to become. Additionally, this market is expected to have a CAGR (compound annual growth rate) of 25.5%
legal cannabis sales are on track to surpass $57 billion by 2030 at a CAGR of 14%. states that are considering legalization proceed to enact such laws. Based on the newly published report, increasing consumer demand and sweeping legalization are two primary factors that are acting as a catalyst for market growth.
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