New Cannabis Report Predicts Legal Sales To Reach Nearly $30 Billion By 2025

New Cannabis Report Predicts Legal Sales To Reach Nearly $30 Billion By 2025

Written by Iris Dorbian, Forbes Magazine

Sept 24th, 2019

New Frontier Data, a Washington, D.C.-based cannabis researcher, has just released a new industry report that takes a detailed look at forecasts and trends. Also subject to scrutiny are revenue projections, the black market, consumer behavior and potential interaction with the U.S. opioids market. Dubbed “The U.S. Cannabis Report 2019 Industry Outlook,” the annual report, which runs over 100 pages, targets investors, business owners, governments, academics and researchers. “The report should be of interest to anyone who is keen to understand the growth and evolution of legal cannabis,” said John Kagia, chief knowledge officer at NFD. The document was produced in partnership with Global Cannabinoids, a Las Vegas-headquartered provider of hemp derived cannabinoid extracts and formulations.

Among the report’s key findings:

*Total legal sales of cannabis in current legal states are projected to grow at a compound annual growth rate (CAGR) of 14% over the next six years, reaching nearly $30 billion by 2025. This figure takes into account the likely projection that more states will legalize. Currently, 33 states and D.C. have legal medical marijuana markets while 10 states (plus D.C.) have legal recreational markets.

*Annual sales of medical cannabis are projected to grow at a 17% CAGR through 2025, to an estimated $13.1 billion by 2025; adult-use sales are projected to grow at a 16% CAGR, to $16.6 billion.

*An estimated 38.4 million U.S. adults consume cannabis at least once annually, from either a legal or illicit source.

*36% of cannabis consumers report using cannabis daily, and 59% use cannabis at least once a week

*People between the ages of 25 and 44 comprise 45% of cannabis consumers

On the report’s forecast, New Frontier Data founder and CEO Giadha Aguirre de Carcer said their $30 billion estimate of U.S. legal sales for 2025 is “significant” for them considering they tend to assume a cautious “if not conservative” approach in their projections. “Foreign investment into the U.S. cannabis industry remains strong and domestic consumption continues to rise, especially as new states legalize,” added Aguirre de Carcer in a public statement.

When asked what findings in this latest report surprised them,  NFD’s Kagia said there was several notable developments that seemed to have “captured the zeitgest.” They ranged from the popularity of the CBD market in the wake of the December 2018 passage of the Farm Bill to the surging performance of newly legal markets, such as Nevada and Oklahoma, “with canna-tourists flocking to the states well-appointed dispensaries, and the latter shattering records as the country’s fastest growing medical cannabis market.”

But that wasn’t all. In addition to the continued and “dramatic” capital inflow into the cannabis industry, Kagia noted a “dramatic reassessment of cannabis’s place in society and the escalation of the legalization debate in capitals and local communities across the country.” Although legislative roadblocks still hobble some states, such as New York and New Jersey, from moving ahead with legalization, public support and pressure notwithstanding, right now, the issue has assumed great importance in the political landscape. Nearly every Democratic presidential candidate “has affirmed support for some measure of federal cannabis policy reform, adding to the likelihood of a substantial policy debate during the 2020 election cycle,” added Kagia. With a majority of Americans supporting legalization, according to the latest Gallup poll, and “support among younger voters being dramatically higher than that of older voters, the trend toward a more accepting view of cannabis will be generational.”

Related Articles

Overcoming CBD Business Growth Challenges

​Read More

How to leverage the CBD bath bomb trend.

​Read More

CBD Distillate

​Read More

CBD Honey

​Read More

Join Our Mailing List and Get Product Updates and Industry News and Events


All products marketed or advertised by are tested both internally and independently for potency, purity, and consistency.  We market and advertise only the highest grade legal products that are fully organic, contain no pesticides, no residual solvents, no heavy metals, and no toxic mildew or mold.  All industrial hemp products we market or advertise are tested internally as well as independently by 3rd parties to confirm and maintain full accuracy and consistency of all quality control measures.  All phytocannabinoid (PCR) rich products our partners produce, manufacture, or distribute, are either imported legally, or derived from 100% Federally legal industrial hemp that is registered with the Colorado, Oregon, or North Carolina State Departments of Agriculture and conform fully to the 2014 US Farm Bill section 7606 and 2018 US Farm Bill, which federally legalized the cultivation of industrial hemp under certain federal mandated conditions which we fully conform to.  All products our partners produce, manufacture, market, or distribute is fully compliant with nearly all 50 states, local, and international laws.  Always check with your local laws before selling or distributing any products. We do not sell any products online or direct to consumer. We are exclusively a lead generator for the largest global B2B suppliers of bulk and wholesale hemp derived phytocannabinoids. FOOD AND DRUG ADMINISTRATION (FDA) DISCLOSURE: These statements have not been evaluated by the FDA and are not intended to diagnose, treat or cure any disease.  Always check with your physician before starting a new botanical extract, medicinal herb, or dietary supplement program.

Copyright © 2019 Global Cannabinoids. All Rights Reserved.

Leave a Reply

Your email address will not be published. Required fields are marked *