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Trying to get a handle on cannabis use is difficult, even in a country where its use is legal. After all, not many users are willing to line up to tell others about their use. And even if users are willing to talk about it, it’s hard to tell how accurate your results will be.
Believe it or not, cannabis is still considered an illegal drug for recreational use in a large part of the world. In these places, it is illegal to use it, grow it, or sell it. Violation of these laws will result in prison time. A few countries have taken steps to legalize cannabis to reduce criminal activity associated with the drug and be better able to control who has access to it. This article looks at the top three countries with the highest use of legal cannabis.
For more information about these countries and others with laws about legal cannabis use, i49 is an excellent resource.
#1 United States ($30 billion spent by 2024)
It should come as no surprise that the United States accounts for the highest percentage of users worldwide, but according to sales figures given by licensed stores, this country accounts for more than three-quarters of global sales.
Interestingly, sales are expected only to increase as long as Congress continues to turn a blind eye to the drug and allow states to exercise their prerogatives regarding use. Further, and perhaps more telling, more than $9 billion of sales can be expected from medical sales, exceeding the $4 billion from 2018. The remainder will come from the $21.1 billion that comes from sales of recreational users.
$2 Canada ($5.18 billion by 2024)
America’s neighbor to the north might have been the first among industrialized countries to legalize weed, but in terms of sales as of this date, Canada is a distant second. Projected sales are expected to be $4.8 billion from the recreational market, with the remainder coming from medical users.
It is not uncommon for the medical market to become cannibalized when the adult market goes legal. Still, until that happens, it appears that the medical market will continue to be a strong presence in the field.
Many experts are chomping at the bit with excitement to see how the upcoming launch of the derivative market will play out when things such as topicals, edibles, vapes, and other products become legal by mid-December. But rest assured that the experts aren’t the only ones how can barely contain their excitement: growers, not to mention that users are waiting with bated breath.
#3 Germany ($1.35 billion by 2024)
Cannabis might not be legal in Germany, but the widespread use of the weed is growing significantly. Combine this with the country’s highly permissive stance on medical marijuana, and the fact that health insurers cover it, there’s a good chance that the larger numbers of users will cause sales to reach $1.35 billion, up from $79 million in 2018.
Another critical factor in determining the growing use of cannabis in Germany is the recently approved development of several new commercial growers. Further, Germany recently authorized in the importation of 4.000 kilos from Canada for medical users. Most experts agree that this figure is likely to increase if the demand calls for it.
It’s hard to tell where the cannabis market will go from here in the next few years, but you can be sure that as long as trials are good and consumer demand increases, the sales will go right along.
