A new analysis by New Frontier Data finds that marijuana sales are expected to soar by 2025. New Frontier estimates that in 2020 there was approximately $20.32 billion in marijuana sales in the United States. By the end of 2025 that number will increase to an estimated $42.93 billion.
Increases in 2021
Legal marijuana sales have also increased significantly in 2021. With more and more states legalizing marijuana, both for medical and recreational use, sales have skyrocketed. New Frontier Data expects that legal marijuana sales will increase by approximately 4.4% from the first to second quarter of 2021. In the first quarter of 2021 marijuana sales reached an all-time high of $5.84 billion. Sales for the second quarter of 2021 are expected to surpass $6 billion.
The Rise of Medical Marijuana
Part of the reason for growth in the industry is thanks to medical marijuana policies around the country. Thirty-eight states now allow for the legal use of medical marijuana, plus Washington, D.C. As of the end of April 2021 there were over 4 million registered medical marijuana patients nationwide. That number will surely increase as more states begin newly legalized medical marijuana programs. New Frontier Data estimates that by 2025 there will be approximately 5.4 registered medical marijuana patients in the United States, equalling approximately 2% of the U.S. population.
