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