Legalized marijuana market is now value $64 billion, based on new report

Information: Coresight Analysis; Word: Margin of error ±6 share factors; Chart: Madison Dong/Axios Visuals

The marijuana market has practically tripled during the last three years as legalization sweeps the nation, based on a brand new report by Coresight Analysis.

What they discovered: Of the 1,017 survey respondents within the 41 states (plus, the District of Columbia) the place marijuana is now authorized in some kind, 22% stated that they had bought it for leisure or medicinal functions during the last 12 months.

  • Amongst them, the common individual spent $85 per 30 days — with 1 in 4 spending lower than $30 and 9% spending $200 or extra.
  • That makes the market value about $64.3 billion yearly, up from $21.5 billion in 2019, Coresight estimated.

Zoom in: About two-thirds of customers stated they’ve elevated their marijuana utilization because it was legalized.

  • Of these customers, 57% stated that they had smoked it, 46% had consumed it by way of meals and 42% had vaped it.

See also  New unemployment claims quantity reveals job market resilience