Sales of cannabis hit a record of $17.5 billion as more Americans than ever have been consuming the plant.
Marijuana had a breakout year in 2020 despite the coronavirus pandemic. Legal sales across the nation, where 15 states allow adult use and 35 allow medicinal use, had hit a record of $17.5 billion. This represented a staggering growth of 46% compared to 2019.
The data was recently published in a report by BDSA, a cannabis sales data platform.
The report had found that most of the sales growth came from adult-use markets, especially mature markets like Colorado, which grew sales by 26% to reach $2.2 billion, and Oregon, which saw sales hit $1.1 billion, a 29% increase over 2019.
Illinois saw the largest dollar gain last year at an increase of $784 million while California, the country’s largest cannabis economy at $3.5 billion, increased sales by $586 million. Florida saw a $473 million increase.
“We expected more potential impact from an economic downturn, but the industry has proven to be resilient,” remarked Kelly Nielsen, who runs BDSA’s insights and analytics department. “It’s potentially recession-proof.”
The report also revealed that about 30% of consumers surveyed by BDSA said they shop for cannabis products more often, while 25% of consumers say their cannabis usage has increased since before the pandemic.
Cannabis delivery companies also had a successful 2020 with the number of Americans using cannabis delivery increasing by 25%, BDSA found.