Cannabis Industry Statistics Provided by Rukli Distribution
Helping Your California Cannabis Company Succeed
Rukli Distribution is here to help you better understand the cannabis industry in California and worldwide. With the rapid expansion of an industry comes an abundance of fresh information and knowledge. We conducted a thorough search of the internet to collect the most crucial and pertinent statistics about marijuana, both in the United States and globally, for the year 2023. This report provides a comprehensive overview of statistics related to cannabis consumption, public attitudes toward marijuana acceptance, market growth, employment patterns, and legal aspects. Learn more about cannabis industry statistics, and get in touch with us today if you have any questions.
Key Findings About the Cannabis Industry
- Let’s take a high-level overview of the cannabis industry before delving into more specific statistics:
- Compared to cigarettes, cannabis tends to be a more popular choice among young adults.
- When buying cannabis, about 60% of consumers prioritize THC potency above other factors.
- It is projected that the marijuana industry will contribute nearly $100 billion to the economy.
- Adult-use cannabis has been legalized in 21 states.
- There is an 88% approval rating for legalizing marijuana among adults.
- Retail cannabis taxes for 2022 amounted to almost $3 billion.
- On average, retail prices for cannabis have dropped by approximately 20%.
Marijuana Usage Statistics Among Young Adults
Gallup has reported that the proportion of young adults who use cannabis has risen by 5% since 2018, whereas the percentage of the same age group who smoke cigarettes has decreased to an all-time low over the past three years. Although the rise in cannabis consumption does not appear to be associated with a decline in tobacco use, this trend highlights the rapid growth and acceptance of cannabis, which is now becoming more popular than tobacco, a plant that has been historically prevalent and legally recognized at the federal level.
More Than Half of Adults Have Tried Cannabis
Based on a recent YouGov survey, the percentage of U.S. adults who have experimented with marijuana has reached an all-time high of 52%. In contrast, just eight years ago, only 40% of Americans reported trying cannabis at some point in their lives. Among those who admitted to trying cannabis, 43% used it within the past year, and 72% consumed it in the last month. Surprisingly, the age group most likely to have tried marijuana were adults aged between 45 and 64 years (63%). This was followed by liberals (60%), individuals residing in the Western U.S. (56%), and white Americans (56%).
Is Cannabis Recession-Proof?
According to a recent poll conducted by Jushi, it was revealed that the demand for cannabis remains strong, despite the increasing pressure of inflation and cost-saving measures. Out of the participants surveyed, 39% reported purchasing less expensive cannabis in 2022 compared to the previous year (2021). However, an overwhelming 73% of respondents actually increased their expenditure per transaction this year. Moreover, the poll indicated a shift in the leading factors influencing cannabis purchases. While branding and strain type held the utmost importance in the previous year, the current survey highlights that 60% of respondents now consider the THC percentage as the most crucial factor. Additionally, 58% of participants prioritize the price when making their cannabis purchasing decisions.
Cannabis vs. Alcohol Among Young Adults
A recent survey conducted by CivicScience has revealed that a significant portion of individuals participating in Dry January, a popular trend involving abstaining from alcohol for the entire month, are substituting alcohol with cannabis and CBD. Specifically, 21% of those partaking in Dry January reported using cannabis and CBD as a replacement. Further analysis of the survey data indicates that the largest demographic group replacing alcohol with cannabis consists of individuals aged 21-24, accounting for 34% of respondents. Following closely behind are 25-34-year-olds, making up 24% of the respondents. This survey corroborates the growing trend among younger individuals who have been increasingly turning to cannabis as an alternative to alcohol, a phenomenon that has gained momentum during the pandemic. The statistics from Dry January serve as confirmation of the assumption that more individuals from younger generations are opting out of alcohol consumption and embracing cannabis as a substitute.
Statistics About Cannabis Drinks, Edibles, Vape Pens, & More
In 2022, Headset’s analysis showed a decline in sales for cannabis tinctures (-24%), topicals (-8%), capsules (-4%), and flower (-8%). Conversely, there was a notable increase in the sales of certain product categories, including beverages (+10%), edibles (+10%), vapes (+5%), and pre-rolls (+12%). This shift in product categories could potentially be attributed to changing consumer behavior, with a transition from medicinal cannabis consumption to a greater emphasis on recreational use. Rather than seeking cannabis products primarily for symptom treatment, consumers are showing a growing interest in portable and shareable recreational options.
Americans Expected to Consume Nearly 50 Million Pounds of Cannabis a Year
According to the analysis conducted by Whitney Economics, the combined quantity of cannabis, including both legal and illegal sources, is expected to surpass 48.8 million pounds in 2022. Furthermore, the report predicts that by 2026, there will be a greater volume of legal cannabis available in the United States compared to illicit cannabis. Cannabis cultivation is experiencing a significant upswing throughout the nation. A prevalent trend observed in emerging markets is a shortage of cannabis immediately after regulation is implemented. This scarcity is then followed by an overproduction phase as the state ramps up cultivation to meet the rising demand. Eventually, the market reaches a state of equilibrium where the supply of marijuana aligns with the demand.
CBD Usage in America
Since becoming federally legal in 2018, CBD has gained mainstream recognition as a broad category. Although there may be differences between marijuana users and CBD users, it is important to consider CBD usage within this group. According to Gallup, 14% of all U.S. adults report using CBD, with the percentage rising to 20% among individuals aged 18-29. An intriguing aspect is the variation in familiarity with CBD products across different age groups. The study reveals that 49% of individuals aged 65 and above are unfamiliar with CBD, compared to only 26% among those aged 18-29. The same study highlights the primary reasons for CBD usage, which include:
- Pain – 40%
- Anxiety – 20%
- Sleep/Insomnia – 11%
- Arthritis – 8%
- Migraines/Headaches – 5%
In April 2020, SingleCare, a medical prescription savings company, conducted a similar survey that showed 45% of current CBD users increased their CBD usage once the pandemic began. Interestingly, their 2020 study also found that 49% of CBD users reported taking CBD to alleviate stress and anxiety, which is nearly 30% higher than the percentage reported in the 2019 Gallup poll.
Contact Us for Cannabis Industry Assistance
Rukli Distribution hopes that you have found these cannabis statistics helpful. Cannabis industry trends and medical marijuana industry statistics can be useful to better understand your customers and prepare for what’s to come. Our team is here to assist with pick and pack services, inventory planning, order fulfillment, warehouse services, and more. Contact us today to get started so you can take advantage of the latest cannabis market trends.