Regardless of your current feelings on cannabis, nothing changes the fact that this industry is growing by leaps and bounds. The sooner you realize that, the sooner you will start looking into ways to get involved.
While some never go beyond using cannabis, more entrepreneurial-minded people have realized that they can start a full-blown business in this space. There are many companies innovating in the cannabis industry, such as 420TV, a business built around delivering high-quality content related to all things cannabis.
Let’s take a look at five cannabis statistics that will open your eyes and change the way you view this industry:
1. Cannabis is the most commonly used drug (22.2 million people have used it in the past month) according to the 2015 National Survey on Drug Use and Health (National Institute on Drug Abuse).
While many organizations consider cannabis an illicit drug, this is slowly changing. With each passing year, more states are legalizing the use of cannabis.
If things continue in this direction, it won’t be long before cannabis is no longer considered an illicit drug, but rather one that people can use freely.
2. North American sales are projected to top $20.2 billion by 2021, assuming a compound annual growth rate of 25 percent. For the first time, the report includes Canada, which is moving toward implementing legal adult use of cannabis (Forbes).
This statistic indicates just how big the industry is set to become in the next few years. Unless something drastically changes, the industry will continue to achieve growth of roughly 25 percent each year, which would be astonishing in any business environment.
3. Ninety-two percent of medical cannabis patients say that cannabis works, and according to a study in the New England Journal of Medicine published in 2013, 8 out of 10 doctors approve of the use of medical cannabis (Trend Statistics).
There are a lot of people out there who want to use cannabis because of the way it makes them feel. There is no denying that cannabis provides a pleasurable experience, and it’s safe to assume that this will always be the case.
But did you know that medical cannabis can do wonders for a variety of conditions? Not only is this something that patients believe in, but many statistics show that the medical industry is becoming more receptive to this.
It may not be easy for people in some localities to get their hands on medical cannabis right now, but this is one of those things that is likely to change down the road.
4. An estimated 22 million pounds of cannabis are grown each year in the United States (Mother Jones).
While this may not be as much as in other countries, it’s a number that will only continue to grow as more and more states legalize the use of cannabis.
Currently, nearly 80 percent of the cannabis in the United States is grown in California, Tennessee, Kentucky, Hawaii, and Washington.
Final Thoughts
These are just a few of the many cannabis statistics that can open your eyes to where things stand in the industry at the present time.
There are a lot of people using cannabis, both legally and illegally. Furthermore, there are many entrepreneurs getting involved in the industry, as they realize that the market is about to expand significantly in the next couple of years.
It’s good practice to stay current with the trends in the cannabis industry, including these types of statistics, as they will keep you informed as to what’s going on and what to expect down the road.
What are your thoughts on these cannabis statistics? Are there any others that you consider important? What do you expect to see from the industry over the next 12 months? Share your thoughts and personal experiences with cannabis in the comment section below.
