The use of cannabis some years ago was exclusively considered a taboo but not anymore, how times fly. Nowadays, more than 94 million citizens of the United States admitted to using marijuana at least once in their lifetime. It is also interesting to see the incredible statistics of the cannabis industry. As more states are legalizing medical marijuana and recreational marijuana sales and usage, I thought about taking a glance at the latest statistics reported in the market. The market keeps growing every day.
In a 2015 survey, a whopping 84% of the American populace supports the legalization of medical marijuana. The sales of legal marijuana increased in the United States by roughly 17% in 2015, resulting in $5.4 billion total sales.
In Colorado, the marijuana plant is readily accepted, there are more marijuana dispensary locations than McDonald’s and Starbucks combined.
At the moment, there are more than 25,000 different products usage of industrial hemp and more being developed every day (Source: usatoday.com). The use of cannabis by medical marijuana patients reached 2,604,079 users in 2016.
The legal sales of medical and recreational marijuana in Colorado reached almost $1 billion in 2015. The tax revenue generated from these sales is more than the revenue collected from the sales of alcohol and a momentous fraction of this income benefits the school system.
15 conditions show significant success in being treated with medical marijuana in clinical trials. This number keeps growing as research continues.
A new economy of cannabis is sprouting. While many traditional business ventures take years to become profitable, almost 90% of dispensaries, recreational marijuana stores, commercial cultivators, and infused products companies report breaking even or making a profit in 2016. The U.S. marijuana industry has created an estimated 100,000 to 150,000 new work positions nationwide.
Studies suggest that getting marijuana legalized in all states would result in about $3.1 billion in tax revenue annually. The cannabis industry is projected to record of $20.2 billion worth of sales by 2021.
As at 2017, the number of deaths resulting from marijuana overdose stands at zero. When compared to almost 18,900 deaths caused by opioid-related overdoses, marijuana retains a stellar safety rating. An impressive 92% of patients on medical marijuana report improvement in their symptoms as a result of medical marijuana use. Nevertheless, 700,000 individuals are arrested on marijuana-related charges every year, and the federal government and state governments spend as much as $17.5 billion annually to prohibit or enforce marijuana prohibition.