CULTIVATING CHANGE
The old stereotype of cannabis consumers as lethargic, disconnected drug abusers is waning in 2021 as legalization continues to spread across the United States and the globe. Thirty-six U.S. states now have some type of regulated cannabis sales. And the passage in 2019 of the SAFE Banking Act signaled to many that cannabis is on track for federal decriminalization — a key step toward making the industry more manageable for the insurance and risk management industry. Here’s a look at the legal cannabis market.
U.S. Cannabis Retail
Sales Estimates
Source: Marijuana Business Factbook
$10.6B-$13B
CLICK YEAR TO REVEAL SALES AMOUNT
2019
2021
$20.3B-$24.8B
2020
$15.5B-$18.9B
Dried Cannabis
Cannabis Product Popularity
Cannabis extracts
Edible cannabis
(FLOWER)
73%
OF TOTAL
SALES
14%
12%
OF TOTAL
SALES
OF TOTAL
SALES
Source: Health Canada
Source: World Health Organization
global consumption
ABOUT
PEOPLE,
OR MORE THAN
OF THE
WORLD POPULATION, CONSUME
CANNABIS AT LEAST
150 MILLION
2.5%
ONCE PER YEAR.
ILLUSTRATION & ILLUS. ANIMATION: SHAW NIELSON
TEXT ANIMATION: TIM SCHAFER
