Data of cannabis industry in 2019

Cannabis market size:

In 2019, the global consumption expenditure of marijuana is 344 billion US dollars (legal and illegal), and there are 263 million marijuana consumers in the world.

In 2019, the market size of legal marijuana in the United States is 13.6 billion US dollars, including 7.6 billion US dollars for recreational marijuana market and 600 million US dollars for medical marijuana market; new frontier data predicts that the market size of legal marijuana in the United States will reach 29.7 billion US dollars by 2025.

As more and more states in the United States release the legal marijuana market, the U.S. illegal marijuana market will drop from $64 billion in 2019 to $57.3 billion in 2025.

Employment and taxes:

In 2019, the U.S. marijuana industry provided more than 258000 jobs, and new frontier data expects to reach more than 743000 by 2025.

In 2019, the federal tax generated by the marijuana industry in the United States is $1.41 billion, and new frontier data is expected to reach $4.06 billion by 2025.

Investment in cannabis industry:

Despite strong market demand, the operation of key markets (including Canada and California) is facing challenges, coupled with the slow process of federalization in the United States and other reasons, resulting in a slowdown in marijuana investment and a significant decline in the value of the industry's largest marijuana company.

As of December 11, 2019, according to the data of new frontier data, the investment amount of legal cannabis industry in the United States in 2019 is 11 billion US dollars. The leading marijuana company canopy growth has reached 10 billion in the market.

Industrial marijuana cultivation area:

At the end of 2018, the United States passed a new agricultural bill to legalize industrial marijuana cultivation at the federal level. In 2019, the legal cultivation area of industrial marijuana in the United States surged to 453000 mu, a 479% increase over 78100 mu in 2018