Friday, April 19, 2024

Legal marijuana sales in the United States exceed NBA annual revenue, and will exceed Craft Beer by 2020!


According to marijuana business daily on July 15, sales of legal marijuana (including recreational marijuana and medical marijuana) in the United States in 2019 were $10.6 billion to $13.0 billion, exceeding the NBA’s annual revenue of $8.8 billion. Legal marijuana sales in the United States are expected to reach $30.2-37 billion by 2024, exceeding the annual spending on “craft beer” in the United States.

Recreational marijuana (THC > 0.5%) is also known as adult marijuana, leisure marijuana and drug marijuana. In North America, people believe that the “danger” of marijuana is lower than that of tobacco and alcohol, and “addiction” is lower than that of morphine and heroin. People and organizations are actively promoting the legalization of recreational marijuana.

According to Gallup’s survey, the support rate of Americans for the legalization of recreational marijuana was 12% in 1969. After entering the new century, the support rate of legalization of recreational marijuana has increased sharply, reaching 66% in 2018. The younger generation is, the higher the acceptance rate of recreational marijuana is.

On October 17, 2018, Canada became the first country in North America to legalize marijuana entertainment nationwide. At present, 11 states in the United States and Washington DC have legalized recreational marijuana, including:

Alaska, California, Colorado, Illinois, Maine, Massachusetts, Michigan, Nevada, Oregon, Vermont, Washington, Columbia District (Washington DC).

The hallucinogenic component of cannabis is THC (tetrahydrocannabinol). In the states where marijuana entertainment is legal in the United States, THC, together with CBD and other hemp ingredients, is added to food and beverage sales, including soft candy, biscuits, health products, beer, red wine, etc.

In the United States, hemp products accounted for 32% of the products sold, followed by new data and vantier, accounting for 38% of the products sold.

In the United States, high thc derivatives (THC > 0.3%) can only be sold by licensed pharmacies, and there are about 4500 retail outlets in the country. These products are tested for potency and contamination in government approved laboratories. High CBD and low thc derivatives (THC < 0.3%) can be sold in general retail outlets, including pharmacies, convenience stores, grocery stores and the Internet.

According to marijuana business daily, the retail sales of medical marijuana in the United States will be $4-4.9 billion in 2019, and it is expected to reach $9.5-11.7 billion by 2024.

Compared with recreational marijuana, the medical value of marijuana plants has been recognized by more people, and 36 states in the United States have legalized medical marijuana. Medical marijuana legal states include:

Arizona, Connecticut, Delaware, Florida, Hawaii, Illinois, Louisiana, Maryland, Minnesota, Missouri, Montana, New Hampshire, New Jersey, New Mexico, New York, Pennsylvania, Rhode Island, Utah, West Virginia, Arkansas, North Dakota , Ohio, Wisconsin, Wyoming, Alabama, Georgia, Indiana, Iowa, Kentucky, Carolina, Mississippi, Oklahoma, South Carolina, Tennessee, Texas, Virginia.

There are hundreds of cannabinoids in hemp plants, including THC, CBD, CBC, CBN, etc. most of them have high medical value.

There is an endogenous cannabinoid system (ECS) in human body, which is involved in the regulation of pain, pressure, appetite, energy, cardiovascular function, sleep and many other functions.

“Exogenous cannabinoid” can affect the endogenous cannabinoid system by activating / acting on cannabinoid receptors (CB1, CB2), and then regulate human health.

Medical marijuana can be used to treat chronic pain, post-traumatic stress disorder, insomnia, anxiety, epilepsy, neuralgia, cancer and other diseases.

Studies have shown that medical marijuana can replace 11% of prescription drugs. A survey of more than 1300 marijuana consumers in the United States shows that about 80% of people use marijuana as a substitute for drugs, mainly opioids.

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