Cannabis industry

Market Trends and Legalization

• Marijuana sales in North America reached $6.7 billion in 2016.
• The U.S. cannabis industry is expected to grow from $2 billion in 2014 to potentially $10 billion in 2018.
• Estimated U.S. industry value could reach $35 billion by 2020.
• Legal market value exceeded $10 billion as of September 2020.
• Uruguay legalized recreational marijuana in December 2013.
• Canada legalized cannabis for adult use in October 2018.
• Deloitte estimates the Canadian retail market at $4.9-$8.7 billion annually.

Economic Impact and Job Creation

• Ancillary products and services support the cannabis industry.
• The total economic impact of the U.S. cannabis industry was $16-$18 billion in 2016.
• The legal cannabis industry supported 321,000 jobs in 2021.
• The industry has seen rapid growth, creating over 77,000 new jobs since 2020.
• Investments in research and development drive innovation.

Gender Disparity and Women in the Cannabis Industry

• In 2017, only 17.6% of Director or Executive roles were held by women.
• Despite women making up 85% of healthcare decisions and consumers, only 4% of research and funds are allocated to women’s healthcare.
• The industry presents significant opportunities for women entrepreneurs.
• Women historically faced gender-based barriers hindering equal treatment.
• Women are starting to challenge prior literature by showing confidence in facing unpredictability.

University Involvement and Industry Education

• Universities are increasingly involved in cannabis industry-related programs.
• Northern Michigan University offers a Medicinal Plant Chemistry Program.
• University of California-Irvine has an Institute for the Study of Cannabis.
• Hocking College offers a Cannabis Lab Technician program.
• Understanding women’s historical and current place in the industry is crucial to combat discrimination.

Challenges and Global Trends in the Cannabis Industry

• Regulatory complexities vary across jurisdictions.
• Quality control and standardization remain significant challenges.
• Public perception and stigma affect market acceptance.
• Legalization efforts are expanding worldwide.
• Research on cannabis benefits and risks is gaining traction.

Cannabis industry Data Sources