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Benzinga
Benzinga
Business
Vuk Zdinjak

New Frontier Data Study Projects 71M Cannabis Consumers By 2030

FTI Consulting United States

New Frontier Data in partnership with FTI Consulting, released its annual market update, the 2022 U.S. Cannabis Report: Industry Projections & Trends.

The report projects annual U.S. legal cannabis sales to exceed $57 billion by 2030 (a CAGR of 14%) in current legal states, and if the 18 additional state markets poised to legalize do that, this figure would top $72 billion. Overall growth is fueled by convergent forces including strong consumer demand and an influx of newly operational legal state markets in recent years. Additionally, more adults are consuming cannabis regularly amid normalization and increasing societal recognition of the plant’s therapeutic and wellness applications.

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