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In the fast-paced, data-driven world of the cannabis industry, partnerships are crucial to success. Turns out, his statements are backed up by thorough data analysis and insightful findings. As a result, ‘recreational’ categories like pre-rolls, edibles, beverages, vapes, and oils are seeing an upswing in market share.
Despite the federal illegality of cannabis, lawmakers and state representatives have implemented successful medical and recreational cannabis programs across the nation. As of July 2022, 38 states in America have legalized medical cannabis, and 19 states and the District of Columbia have established recreational cannabis programs.
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. These surveys explore the motivations and methods behind cannabis usage for both medical purposes and recreational enjoyment.
market alone represents a significant share of the worldwide market and, taking into account new projections published by New Frontier Data , U.S. legal cannabis sales are on track to surpass $57 billion by 2030 at a CAGR of 14%. The projected $72 million valuation that New Frontier Data analysts have pinned on the U.S.
In all, Missouri topped $1 billion during its first year of recreational sales. Luckily for this flourishing industry, the legalization and opening of the recreational cannabis market in Missouri easily filled those 10,500 previously lost jobs for their billion-dollar industry. By 2030, we predict this will grow to $67.2
At the present time, state medical and recreational legalization have no impact on federal drug control laws. Although many states have chosen to legalize medical marijuana and four have legalized recreational use, such state actions continue to conflict with federal law. 2030 , 2068, 2070; Pub. 2030 , 2068, 2070; Pub.
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