MARKET & INDUSTRY
SNAPSHOT
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15.4%
Recreational Cannabis: Expected to expand at a CAGR of 15.4% from 2025 to 2030
47.2
47.2 MILLION ADULTS ARE CANNABIS CONSUMERS
55%
Women NOW comprise 55% of cannabis users
SNAPSHOT
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U.S. MARKET SIZE & GROWTH
- The U.S. cannabis market was valued at around $13.2 billion in 2022, with projections reaching $73.6 billion by 2027. This rapid growth is driven by increased legalization, normalization of cannabis use, and expanding product offerings across various states.
- Consumer spending on cannabis continues to grow, with adult-use sales surpassing $10 billion in 2021 alone, up from $6 billion in 2019, representing a significant and sustained increase in spending.
When purchasing cannabis, consumers most commonly spend between $20 and $49 per visit.
PURCHASING POWER
Cannabis consumers represent a significant and growing source of purchasing power. As legalization expands and the stigma around cannabis fades, these consumers are becoming a highly valuable demographic for brands across various industries. Here’s why:
Rising Spending Power:
The U.S. cannabis market is expected to grow to $73.6 billion by 2027, with consumer spending increasing steadily year after year. Cannabis consumers are willing to spend not only on cannabis products but also on related lifestyle products, services, and experiences.
Diverse, High-Spending Demographics:
Millennials and Gen Z, who are major drivers of cannabis consumption, are also key consumer groups in broader markets like wellness, tech, and lifestyle. This group prioritizes quality and experience, often seeking premium products and services, meaning they tend to spend more.
Additionally, older consumers (Gen X and Boomers) are embracing cannabis for wellness, representing a lucrative segment that often has higher disposable income.
Cross-Category Purchases
Cannabis consumers frequently spend on a range of products beyond cannabis itself. This includes wellness products, food and beverages, apparel, music, technology, and more. Brands that tap into this consumer base can cross-sell and expand their reach into adjacent industries.
Brand Loyalty & Advocacy
Cannabis consumers are known to be brand-loyal, valuing authenticity and trust. Once a brand resonates with them, they tend to stick with it and recommend it to others, driving organic growth and amplifying the impact of marketing dollars.
Health & Wellness Focus
With cannabis increasingly being seen as a part of a wellness lifestyle, consumers are often more focused on quality and sustainability. They are willing to pay a premium for products that align with their values, providing an opportunity for brands that emphasize these aspects.
