With lowered legalization across the nation, cannabis sales are reaching the levels of more established products plus brands, and last year, Americans spent an estimated 10.4 billion dollars on this substance! That’s about the same as the two of us spent at Taco Bell.
The amount spent on medical plus adult-use cannabis has risen by nearly more than one billion dollars in just a few short years! It’s also about various times more than Americans spent on e-cigarettes.
As the industry continues to get bigger and bigger, it’s creating a massive impact on the economy. There are currently more legal cannabis-industry workers in this country than there are steelworkers. In the year of 2018, the cannabis industry added 64,000 jobs. There are a number of reasons behind the industry’s immense growth spurt, but regulated adult-use sales that began all the way in California, making it the biggest legal market in the country. Utah along with Oklahoma legalized medical cannabis. The public perception of marijuana plus products such as CBD oil is abruptly decreasing. Consumers officially spend about $900 million on sandwich crackers plus are spending $10 billion on cannabis. Cannabis products can’t quite compete with the $69.2 billion Americans spent on whiskey, but who the heck knows what the future will bring. Cannabis will likely surpass the $15 billion generated by the NFL last year. I know that it will take a long time to overtake McDonalds, which brought in $36 billion, or alcohol consumption, which adds up to $254 billion, however no matter how the numbers play out, cannabis is very clearly a fast-growing industry, and hopefully, this will inspire further research into the medical benefits of both CBD plus THC, and while multiple are interested in profits, there are an amazing amount of people looking for relief from extreme medical conditions.