california---lessons-from-the-worlds-largest-cannabis-market-infographic · 2020-03-06 · editor...

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2024 $7.2 BILLION 2019 $3.1 BILLION < 2017 $3 BILLION 2018 $2.5 BILLION 53% Former California Governor Jerry Brown predicted that legal cannabis would earn the state $643M in tax revenue. Actual revenue fell short, totaling just over $345M. California became the first state to experience a Y-O-Y sales decrease as a result of the transi�on from medical-only to adult-use; dropping from $3B in 2017 to $2.5B in 2018. Younger genera�ons consume with higher frequency; 39% of Millennials and 41% of Gen X report consuming within the past six months, compared to just 20% of Baby Boomers and older genera�ons. A Sampling of Key Report Insights* Regulators need to get past their Prohibition-era prejudices. ere would shortly be no more illicit market for cannabis than there is for liquor if regulations for the two products were the same, i.e. testing to keep out harmful chemicals and checking IDs at stores. e rest is regulatory overreach. - Tom Adams Editor in Chief, Arcview Market Research Managing Director of Industry Intelligence, BDS Analy�cs PREDICTED ACTUAL Legal cannabis sales in California are on track to grow 23% in 2019 to $3.1B, and forecast to reach $7.2B in 2024, a 19% CAGR. California’s legal cannabis market is forecast to surpass its 2017 high-water mark in 2019, genera�ng nearly $3.1B in spending. The la�er half of 2018 and the beginning of 2019 have seen considerable improvement in the state’s management of the industry’s ever-growing footprint, including expanded availability of retail licenses in growth-cri�cal municipali�es. *These insights are featured in California: Lessons from the World’s Largest Cannabis Market © 2019 BDS Analy�cs | bdsanaly�cs.com California’s illicit market is predicted to make up 53% of all cannabis sales in 2024. States with more suppor�ve regulatory regimes are expec�ng illicit sales to make up less than 30%. California: Lessons from the World’s Largest Cannabis Market Purchase or learn more about this report and the Cannabis Intelligence Briefing Series at shop.bdsanalytics.com A Cannabis Intelligence Briefing Series Report California Legal Cannabis Spending (In Billions) 2017 2018 2019 2020 2021 2022 2023 2024 $0 $2 $4 $6 $8 $7.2 $5.6 $3.8 $2.5 $6.6 $4.6 $3.1 $3.0

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Page 1: California---Lessons-from-the-Worlds-Largest-Cannabis-Market-Infographic · 2020-03-06 · Editor in Chief, Arcview Market Research Managing Director of Industry Intelligence, BDS

2024$7.2 BILLION

2019$3.1 BILLION

< 2017$3 BILLION

2018$2.5 BILLION

53%

Former California Governor Jerry Brown predicted that legalcannabis would earn the state $643M in tax revenue. Actual

revenue fell short, totaling just over $345M.

California became the first state to experience a Y-O-Y sales decrease as a result of the transi�on from medical-only to

adult-use; dropping from $3B in 2017 to $2.5B in 2018.

Younger genera�ons consume with higher frequency; 39% of Millennials and 41% of Gen X report consuming within the

past six months, compared to just 20% of Baby Boomers and older genera�ons.

A Sampling of Key Report Insights*

Regulators need to get past theirProhibition-era prejudices. �ere would

shortly be no more illicit market forcannabis than there is for liquor if

regulations for the two products were the same, i.e. testing to keep out harmful

chemicals and checking IDs at stores. �e rest is regulatory overreach.

- Tom AdamsEditor in Chief, Arcview Market Research

Managing Director of Industry Intelligence,BDS Analy�cs

PREDICTED ACTUAL

Legal cannabis sales in California are on track to grow 23% in 2019 to $3.1B, and forecast to reach $7.2B in

2024, a 19% CAGR.

California’s legal cannabis market is forecast to surpass its 2017 high-water mark in 2019, genera�ng nearly $3.1B in

spending. The la�er half of 2018 and the beginning of 2019 have seen considerable improvement in the state’s

management of the industry’s ever-growing footprint,including expanded availability of retail licenses in

growth-cri�cal municipali�es.

*These insights are featured inCalifornia: Lessons from the World’s Largest Cannabis Market© 2019 BDS Analy�cs | bdsanaly�cs.com

California’s illicit market is predicted to make up 53% of all cannabis sales in 2024. States with more suppor�ve regulatory

regimes are expec�ng illicit sales to make up less than 30%.

California: Lessons from the World’s Largest Cannabis Market

Purchase or learn more about this report and the Cannabis Intelligence Briefing Series at shop.bdsanalytics.com

A Cannabis Intelligence Briefing Series Report

California Legal Cannabis Spending (In Billions)

2017

2018

2019

2020

2021

2022

2023

2024

$0 $2 $4 $6 $8

$7.2

$5.6

$3.8

$2.5

$6.6

$4.6

$3.1

$3.0