First up we go over to Forbes who tell us….
In 2018, U.S. Consumers Ordered Cannabis Every 8 Seconds
And their tweet headlines are..
According to the cannabis delivery clearinghouse company Eaze, “consumers placed a cannabis order every 8 seconds in 2018. ” This information can be found in Eaze’s 2018 State of Cannabis Report. The report also tells us that many of those consumers were Baby Boomers.
Eaze’s report claims that “First-time cannabis consumers grew by 140% thanks to adult use legalization. While average consumer age is 31, Baby Boomers were one of the fastest growing segments, increasing by 25% over the past year.” Baby Boomers are also the biggest cannabis spenders. On average, they spend 53% more than Generation Z consumers. Veterans account for 3% of cannabis consumers; the disabled account for 11%.
We’d suggest that by the end of 2019 there’ll be 8 cannabis orders every second in the US alone via regulated delivery channels , if not more.
Meanwhile over at The Harvest Investor we’re told
WORLDWIDE CANNABIS SALES PROJECTED TO INCREASE 38% TO $16.9 BILLION IN 2019
According to BDS Analytics and ArcView Market Research, cannabis research and investment groups, the cannabis consumers around the world are expected to spend $16.9 billion in 2019, which is a 38% jump from an estimate of $12.2 billion in 2018, and $9.5 billion in 2017. Meanwhile, the compound annual sales from 2017 to 2022 is expected to hit 26.7%, which is at $31.3 billion worldwide sales in 2022.
There’s probably an element or both guesswork and spruiking in the numbers and the number itseld although large isn’t what interestes us.. it’s that rapid rise as the market goes from toddler back in 2016 to a very sprightly 5 or 6 year old. It gives an indication of what middle age is going to look like.