According to a report from Coresight Research, the U.S. marijuana market will hit $64.3 billion in 2022, an expansion the report attributes to the growing numbers of states that have legalized its recreational use. This report, based on a survey of over 1,000 respondents across 41 states and Washington, DC., looks at key trends in the industry and offers recommendations to cannabis retailers.
Some of the key trends include:
- Amount of growth in the market and opportunity since 2019
- The proportion of survey respondents who have used and/or bought marijuana in the past year and the past month
- The most popular methods, frequency and reasons for consuming marijuana among respondents
- How much the average cannabis user spends per month, for both medical and recreational purposes and frequency of use
- Correlation between increased marijuana use and alcohol consumption
- Where consumers are shopping: the state of physical retail for cannabis and the opportunity for brands and retailers
Coresight Research helps retail clients accelerate innovation and growth by focusing on disruption at the intersection of retail and technology — and help clients understand what it means for their business.