Monday, April 22, 2024

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Americans Are Spending More On Cannabis Than Craft Beer And Chocolate

According to a multitude of sources, Americans now spend more money on legal weed than chocolate and craft beer! This report from MJBizDaily has shown that Americans spent roughly $30 billion on legal cannabis last year. We only spent $20 billion on chocolate and $8 billion on craft beer in the same period.

Even though we spend more money on cannabis than the other two mentioned products, the numbers aren’t complete. There are roughly two dozen states that allow the sale of recreational weed and another 19 that allow for medical use. Experts expect that with legal cannabis coming to more states each year, this $30 billion spent will increase by a significant amount.

One product that marijuana does not surpass is the sale of tobacco though. Last year Americans spent over $53 billion on tobacco products alone. But according to many trends, tobacco sales are steadily declining while marijuana sales increase. Those at MJBizDaily believe that by 2028, Americans will surpass big tobacco and spend as much as $57 billion on the drug each year.

Since legalization of marijuana is a relatively new concept to us here in the United States, its weird to think how many Americans are consuming the product. In just a few decades cannabis has gone from a secretive hobby to more of an accepted concept. Dispensaries are opening all around the country, states are legalizing at record rates, and the government is implementing programs to help those affected by cannabis prohibition.

Read the whole article here.

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