Industry Analysis

Cannabis Market Size: 2021-2025 Forecast

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By 2025, the number of cannabis adult users in the United States will reach 46.6 million. In 2019, the number of adults using CBD products was 35.73 million adults, while the number of adults smoking marijuana was 30.62 million adults.

Cannabis Consumption in the United States

  • Two million Americans use cannabis monthly.
  • The number of cannabis consumers in the United States is estimated to increase from 40.3 million in 2019 to 46.6 million by 2025. The chart below shows that the number of cannabis consumers is expected to grow steadily between 2019 and 2025.

Cannabis Consumers

  • According to a survey conducted on 16,280 American adults, about 14.6% of respondents consumed cannabis in the past year. Moreover, only 8.7% of respondents reported consuming cannabis in the past month. “While 12.9 percent reported smoking marijuana, 6 percent said they had consumed edibles, 4.7 percent reported vaping, 1.9 percent said they had used concentrates, and 0.8 percent reported using topical versions of cannabis.”
  • According to a Gallup 2019 survey, about 14% of adults in the United States use CBD products. In 2019, there were 255,200,373 adults in the United States. Thus, the number of adults using CBD products is 35,728,052 adults (=14% x 255,200,373).

14%

Cannabis Consumption Breakdown

Recreational Marijuana

  • Among adults (over 18 years old) in the United States, only 12% smoke marijuana, “a percentage that is essentially unchanged since 2015.” In 2019, there were 255,200,373 adults in the United States. Thus, the number of adults smoking marijuana is 30,624,045 adults (=12% x 255,200,373).

Smoke Marijuana

  • The 2018 National Survey on Drug Use and Health estimated that 43.5 million Americans aged 12 or older used marijuana in the past year, accounting for 15.9% of the population in the United States.
  • Forty-eight percent of Americans consume marijuana at least once in their lifetime.
  • In 2018, recreational marijuana sales reached $6.2 billion.

Medical Marijuana

  • The total number of medical marijuana patients in the United States is 4,375,822. The top five states in terms of medical marijuana patients are California (1,920,294), Michigan (261,989), Florida (206,185), New York (114,947), and Illinois (113,458). The full chart is available here.
  • In 2018, medical marijuana sales reached $3.8 billion.

CBD Oils and Other THC/CBD Products: Key Findings

  • The sales of CBD oils in the United States will surpass $1 billion by the end of 2020.
  • The most common types of CBD products are “oils and tinctures (44% of the cannabis market in the US), topicals (26% of the market), capsules (22% of the market), and infused beverages (19%).”
  • Moreover, the CBD edibles market was $4.1 billion in 2019.
  • The cannabis-infused and beverage market will increase from $173 million in 2018 to go up to $600 million in 2022.
  • The CBD beverage market will increase from $227 million in 2019 to reach $1.4 billion by 2023.

Research Strategy

We started our research by looking for resources which directly and credibly provided the number of users of cannabis and cannabis products (recreational marijuana, medical marijuana, CBD oils, and other THC/CBD products). In attempting to locate this answer, we conducted exhaustive research through government databases, industry-related studies, market reports, statistic portals/databases, and trusted media articles. In pursuit of this strategy, we checked government websites, such as the Substance Abuse and Mental Health Services Administration. Moreover, we checked industry-related websites, such as the Marijuana Policy Project (MPP), American Marijuana, and the National Cannabis Industry Association. We also scoured research websites like Research Gate, Business Wire, and PR News Wire. We also checked consulting websites such as Statista, Deloitte, KPMG, Accenture, and McKinsey, and media websites like US News, Reuters, and Forbes.
This strategy did not lead us to any helpful information that directly provides the requested data for CBD oils and other THC/CBD products. However, we only found the number of users of cannabis, recreational marijuana, and medical marijuana. Thus, the research strategy proved to be fruitless. Therefore, we provided the market size in US$ as a proxy for CBD oils and other THC/CBD products.

GLENN TREVOR
Glenn is the Lead Operations Research Analyst at Simple Manifestation with experience in research, statistical data analysis and interview techniques. A holder of degree in Economics. A true specialist in quantitative and qualitative research.

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