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5 Countries With The Highest Cannabis Spending By 2024

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Marijuana is one of the fastest growing industries on the planet. Legal weed sales have more than tripled between 2014 and 2018, and they're on track to roughly quadruple between the $10.9 billion generated in licensed cannabis stores 2018 and the projected $40.6 billion in worldwide licensed store sales by 2024. That's according to the 2019 "State of the Legal Cannabis Markets" report released earlier this year by Arcview Market Research and BDS Analytics.

Yet, what you might find intriguing about this rapid growth is that it'll wind up being attributed to just a select few countries. Even though more than three dozen countries around the world have legalized medical marijuana, five countries are forecast by Arcview and BDS to account for $38.2 billion of this aforementioned $40.6 billion in licensed-store sales by 2024. Note, licensed-store sales doesn't include general retailers selling cannabidiol (CBD) products, or cannabinoid-based drug developers selling pot-derived pharmaceuticals.

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A black silhouette of the United States that's partially filled in by cannabis baggies, rolled joints, and a scale.

1. United States: $30.1 billion in cannabis spending by 2024

As should be no surprise, the U.S. projects as the leading marijuana market in the world by sales in 2024. In fact, the $30.1 billion in licensed-store revenue should comprise almost three-quarters of global licensed sales. According to Arcview and BDS, $9 billion of these sales are expected to come from the medical side of the equation, up from $4 billion in 2018, with the remaining $21.1 billion derived from recreational marijuana, up from $5.9 billion last year.

Source: https://420intel.com/articles/2019/09/09/5-countries-highest-cannabis-spending-2024

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