Illinois became the 11th U.S. State to legalize the recreational consumption of cannabis in a law that went into effect on January 1st, 2019. The legal cannabis market is still young, on the whole, which means data is limited—compared to more established industries like alcohol—and always in flux, so it’s all the more important to watch cannabis market data closely.
The trends revealed in these 7 cannabis market research statistics are worth tracking as this burgeoning industry continues to grow. Insights into cannabis demographics, product interest, purchasing preferences, and more can help your cannabusiness to stay ahead of the curve.
Yes, cannabis use is seeing a significant increase among the older population (over the age of 50). Interestingly, teen usage has actually fallen in recent years. Keep tabs on cannabis market share and growth within each age group—which is still admittedly dominated by the younger crowd—for indicators about where and how to promote or position your brand.