According to this study, Americans spent more than $30 billion on legal acquisition of the drug last year, well above the $20 billion and $7.9 billion spent on beer and chocolate, respectively.
Market expansion
The data also indicates that the number of businesses selling licensed marijuana in the United States will exceed 165,000 by the end of this year. Far from ending here, forecasts for the future expansion of this market are entirely optimistic: “More than 170,000 million dollars of additional expenditure will be added to the country’s economy in 2028, thanks to the opening and/or expansion of emerging and recreational markets, says Andrew Long, editor of the annually published MJBiz Factbook.
To put the data recorded in 2022 into perspective, the publication has included in the report a comparison of this market with other sectors with a large presence in the North American territory. Sectors like the sale of electric cars ($49.1 billion) or tobacco ($52.7 billion) are just above cannabis. Topping those sales are video games, with nearly $100,000 million.
It should be noted that, currently, the consumption of recreational marijuana is legalized in 22 of the country’s 50 states, a number that rises to 38 if medical use is added to recreational use.
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