Worldwide consumer spending on legal cannabis
Spending on legal cannabis has increased significantly year over year since 2017 and is on track to continue that growth through the foreseeable future.
What about the food and drink industry?
Consumer spending on cannabis-based food and drink is $1.5 billion in United States and Canada. Other industries growing within the CBD market are:
Tobacco
Altria Group Inc
(Philip Morris and Marlboro)
Alcohol
Constellation Brands
(Corona beer and Svedka vodka)
Pharma
Novartis
Supplements
Emerald Health Naturals
Emerald Health Bioceuticals
In 2018
- 1/1/2018 Launch of adult-use sales in California
- The 2018 Farm Bill, passed by Congress, removed hemp containing only trace amounts of THC from the Controlled Substances Act.
- The entry of some of the largest alcohol, tobacco and pharma companies into the cannabis sector were key to making 2018 a year of historical importance
Source: Troy Dayton, CEO of The Arcview Group