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market could surge eight-fold to $80 billion in sales by 2030, according to Cowen & Co. In an effort to position weed as a mainstream product, they post pictures of buds and joints and show people hiking with vape pens or relaxing on the beach with cannabis edibles.
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. While older generations, such as Baby Boomers , largely prefer edibles, Gen Z likes flower the most.
As a result, ‘recreational’ categories like pre-rolls, edibles, beverages, vapes, and oils are seeing an upswing in market share. Conversely, “wellness” counterparts such as capsules, tinctures, and topicals are experiencing a decline in market share.
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