Everything You Need to Know About the Cannabis Industry

    The cannabis industry is setting new records almost every single day and that is not something that can be ignored. Cannabis opens up new possibilities for medical treatments and can be a great ally in dealing with stress. With that in mind, here are some of the most interesting statistics about the cannabis industry that will leave you speechless.

    Global Worth

    According to some estimates, 263 million people are cannabis users. That said, around 1.2 billion people are potential consumers because they have a medical condition that can be treated with cannabis.

    Global spending on cannabis reached $12.2 billion in 2018, while global sales reached $15 billion in 2019.

    Age-Related Stats

    When it comes to cannabis and users’ age, things get more interesting. 24% of Americans between the age of 18 and 29 use cannabis. The percentages are lower for users who are 30 and older—13% of them are between 30 and 49 years old and 11% between 50 and 64 years old.

    Only 6% of Americans over 65 enjoy cannabis. However, seniors are the fastest-growing group of cannabis users in the US.

    Careers in the Industry

    It seems that the cannabis industry can be very profitable. There are many job opportunities, such as a receptionist, security, bud trimmer, budtender, marijuana edibles chef, master grower, dispensary owner, and many more. The salaries depend on the job position. Receptionists usually earn around $21,000, while marijuana edibles chefs earn around $50,000 a year. Dispensary owners make between $200,000 and $2,750,000, depending on how well they run their businesses.  

    The cannabis industry offers excellent opportunities for women in general. According to some assessments, they held around 27% of all executive positions in 2017, which is more than in any other industry. 

    Worldwide Predictions

    The US cannabis market is expected to grow by 14% yearly until 2026.

    The cannabis industry will spread globally. It is estimated that spending on legal cannabis worldwide will reach $66.3 billion by 2025. On the other hand, Asia’s medical cannabis market could reach $5.8 billion, and Oceania’s cannabis market has the potential to reach 2.7 billion by 2024.

    The Bottom Line

    The cannabis industry shows no signs of stopping and this will be even more noticeable as time passes. With more and more countries joining the legalization process and with all the positive results it brings, cannabis has the potential to change the entire world. That said, it is not entirely harmless, and must be used with caution.If you are interested in more stats about the cannabis industry, make sure you check out this cannabis industry infographic.