10 Great cannabis facts and statistics from 2023
It’s impossible to deny how quickly the cannabis industry is taking over the world, especially now that it’s legal or at minimum decriminalized in most states. This exciting new world is growing and cannabis is now available to more people than ever before.
In this article, we’re going to take a moment to highlight ten interesting cannabis facts that might still surprise you, even if you’re highly knowledgeable when it comes to both the market and industry.
1. 14% of all adults in America use CBD
THC isn’t everyone's cup of tea, but these days many consumers utilize the many incredible benefits of CBD and an incredible 14% of all adults in America use it. 40% of those rely on it for pain relief, 20% take it to manage anxiety, and 11% use it to get a better night's sleep.
2. California is still home to the largest cannabis market
California was one of the first states to legalize cannabis for both medical and recreational use, and according to the California Department of Tax and Fee Administration, this region's cannabis sales added up to an impressive $5.3 billion in 2022 which isn’t quite as high as the $5.77 billion reported in 2021. Still, cannabis sales here remain higher than in any other state.
3. Almost half of all legal-aged Americans have tried cannabis
Cannabis is much more widely accepted than it once was, and the numbers prove it. According to a survey by Gallup 50% of Millennials say they’ve tried it, 49% of Gen X also admit to taking its effects for a test drive, and 50% of Baby Boomers reported trying or using it. So if you’re parents or grandparents were born between 1946-1990 there is a 50% chance they’ve indulged at least once!
4. 37% of consumers use cannabis as part of their workout routine
There’s still a lot of debate surrounding this topic as sports leagues and organizations are being petitioned to adjust their rules on cannabis use. However, a survey by Eaze suggests that many feel that it helps seeing as 37% said they used it as part of their regular exercise routine. 20% say they use it before working out, 20% take it after, and 59% use it both pre and post-workout.
5. Oregon is home to the most dispensaries
Californians may be lucky enough to have the largest cannabis market, reporting higher sales than any other state, but according to a report by Veriflife, it’s Oregon that is home to the most dispensaries per capita. With more than 600 cannabis stores in the region, it works out to 16.5 locations for every 100,000 residents, which is pretty amazing. The second most saturated state is Oklahoma.
6. 90% of Americans support legalizing cannabis
Federal legalization may still be miles away but it’s clear that most Americas support the shift based on the results of a survey by Pew Research Center. According to their results, 88% of Americans think it should already be legal, 59% believe it should be available for both medicinal and recreational use, and 30% want to see medical patients have access to cannabis products. Only 10% don’t think it should be legal for any reason, and that number is likely to change with time, knowledge, and exposure.
7. More adults are trying or replacing alcohol with cannabis since the pandemic
In a report by Curaleaf, 42% of surveyed adults used cannabis for the first time or leaned on its benefits more during the pandemic, and 45% of them say they used it to either replace alcohol or to cut down on the amount they drank when COVID hit. What’s even better is that 33% say they actually prefer cannabis to alcohol, and that’s great news for both their health and the industry.
8. 2022 Whitney Economics U.S. Cannabis Supply Report says legal vendors will eventually take over
There are still many cannabis enthusiasts who don’t have access to legal suppliers, and many of those that do still rely on sellers that aren’t licensed. However, the 2022 Whitney Economics U.S. Cannabis Supply Report is predicting this will change by 2026, as more Americans get access to legal sources.
9. The U.S. cannabis industry could exceed $100 billion in sales by 2030
Wall Street analysts are predicting that the cannabis industry in America is going to grow substantially between now and 2030, estimating that by then the market should reach and even exceed $100 billion in sales annually.
10. Joe Biden made history by pardoning all Federal offenses of simple possession of cannabis
Last year President Biden announced that he would have the Attorney General take care of people who were convicted, fined, or jailed for simply possessing cannabis and that those who are eligible to be pardoned would be. Even he recognizes the damage caused by the war on drugs, and as a result, is taking steps to correct that mistake.
As time goes on the industry and societal opinions will continue to evolve, which should ensure that every single cannabis fact on this list only gets better until it reaches a point where it’s both feasible and appealing for investors and entrepreneurs to get more involved in the American market.