The 10 Most Astonishing Cannabis Stats on the Internet

10 Most Astonishing Cannabis Stats on the Internet

cannabis facts and figures online

The global cannabis industry is becoming more lucrative and attractive as it continues to garner acceptance. To keep a track on how far the industry has come some thoughtful individuals thought it best to compound some astounding statistics of the cannabis market, a couple of which will be highlighted below:

The cannabis black market is alive and very thriving - Due to the illegalization of cannabis for several years, this has led to the establishment of a black market for the clandestine sale and exchange of weed. It is estimated to be worth about $70 billion in the United States as customers still prefer to buy from the black market than the dispensaries. This is probably as a result of the fact that consumers find it cheaper and also do not want to pay high taxes on their purchase.

52% of adult Americans have attempted the use of marijuana at least once - According to a poll carried out in 2017, it was discovered that 52% of adult Americans have attempted the use of marijuana at least once. It is also stated by the United Nations that at least 159 million people have imbibed marijuana use globally, although this is alleged to be considerably lower than what describes the real picture.

Over 29% of American adults have access to Marijuana (recreational) - As reported by an evaluation conducted in marijuana legal states, over 29% of American adults have access to it. The way it works is that there are limits to the amounts individuals can possess and if one needs to buy more there will be a need to be incorporated into the state’s medical cannabis program and any violation of the approved limit can lead to penalties.

African Americans Are 273% More Likely to be Arrested for Possession Of Cannabis - It is sad that this is still the case in 2019 but it's undeniable that there is a considerable level of racial discrimination in the United States regarding arrest for possession of cannabis, this bias is more pronounced in some states than others. An obvious example of this is New York, blacks and Latinos are more likely to get arrested for possession. This irrational arrests that have been conducted before seems to be a huge factor in why the percentage of Latinos and blacks who are business owners in the cannabis industry is quite low compared to white owners. Reason for this being the law stating that drug dispensaries cannot be owned by those with convictions from drug felony. And taking into account the unfair rate of arrests, it seems the cards are stacked against people of color. Although its important to note that a lot of awareness and positive work are constantly being done to make sure this heinous act is reduced as much as possible.

The Cannabis Industry Employs over 200,000 People Full-Time in the United States Alone - The cannabis industry seems to be experiencing accelerated growth in terms of job rates and these numbers are very likely to increase as the legalization of cannabis spreads to more states in the coming years. In 2018, it experienced a growth of over 40% which translates to about 64,000 jobs provided but if seasonal and part-time workers are included, this means that about 300,000 people work in the industry.

It is believed that the numbers can only continue to progress upwards, with several experts predicting that it can go as high as 340,000 in 2022 for the full-time cannabis industry jobs.

The Average Annual Salary in the Marijuana Industry is Over $58,000 - According to a 2018 Glassdoor report, the average pay rate in the cannabis industry is over $58,000 per annum which beats the national pay average by about 10%. These stats are a result of the ever-increasing need for a wide variety of skills mostly for technical and professional workers due to the fast growth of the market.

Over $20 Billion Will be Pumped into North America’s Cannabis Industry in 2020 - The cannabis industry has undergone such a fascinating growth over the years and this is major as a result of the large amounts of capital that has gone into it. A report claimed that $10 billion was invested in 2018 and that figure has risen to $16 billion in 2019 with a projection for more growth in 2020.

Total Spend on legal cannabis will hit $57 billion worldwide by 2027 - According to a report by Forbes, the total spends on legal cannabis is expected to skyrocket to about $57 billion worldwide by 2027. This might not be as surprising as it seems because the total demand for cannabis in the US has hit about $52.5 billion already.

36% of executive positions in the cannabis industry in the control of women - The percentage of women holding executive positions in the cannabis industry is higher than that of most industries. The cannabis industry has a 36% rate of women executives compared to 15% of other industries. This allows for easier advancement of women in the workplace in cannabis companies

Regulated dispensaries earn about $3 million in revenue - Many regulated cannabis dispensaries earn an average of $3 million per annum which when compared to their average operating costs of about $1.9 million leaves a tidy sum for profit.

Bottom line

An undeniable fact that can be derived from the majority of the facts is that the cannabis industry has huge potentials and can only continue to grow. A fact which brings nothing but joy to all cannabis enthusiasts out there! It's a good time to be a lover of cannabis because for once the stars are aligned in our favor.