The 12th annual MJBiz Factbook looks at cannabis industry trends, the impacts of new markets, and ongoing legalization across the country.
Some of the data is thought provoking. For example, according to the 2024 MJBiz Factbook, the total amount of U.S. adult-use and medical cannabis sales is expected to reach $32.1 billion in 2024, which will be more than beef sales and also beat total sales of potato chips and movies combined.
U.S. marijuana sales compared to other industries from the 2024 MJBiz Factbook.The 2024 MJBiz Factbook
The Factbook, which costs at least $249 per year as part of a new subscription model, includes nearly 50 charts and a state-by-state overview of regulations, taxes and market conditions, including:
- The economic impact of cannabis sales in the U.S. will top $112.4 billion in 2024, up 12% from last year.
- The U.S. estimates 420,000 full-time employees in the cannabis sector.
- 78% of the U.S. had access to regulated marijuana in 2023.
- State-by-state sales estimates from California, which is expected to reach $4.3 billion in 2023 (down from 2022), to Vermont, which will have less than $25 million.
- Wholesale cannabis prices varied throughout the U.S. at the end of Q3 2023, but Western markets were cheaper overall.
- Survey results from cultivation, manufacturing and retail.
Additional topics include the possibility of plant-touching companies to evade Section 280E of the Internal Revenue Code, consumption lounges opening, merger and acquisition activity, new projected markets, leveling sales in mature markets, hemp and CBD production, plus sales of delta-8, delta-10, and THCA.
"As we embrace the dynamic shift to a membership model, MJBiz reaffirms our unwavering commitment to delivering unmatched industry insights year-round," says Karalynn Sprouse, Executive Vice President of Emerald, which acquired MJBiz in January 2022. "This offering is designed to keep our members at the forefront of the rapidly evolving landscape, empowering them with the knowledge and tools they need to thrive."
U.S. cannabis retail sales estimates from the 2024 MJBiz Factbook.The 2024 MJBiz Factbook
