Starbucks has long been one of the most popular coffee places around America and the world, but there is one thing in America that is more popular.
A new study by MJBiz has found that sales of legal marijuana have eclipsed those of Starbucks in the United States in 2021.
As part of their 2022 Factbook, MJBiz examined the growth of the legal marijuana industry in the United States, comparing it other big time revenue sectors, like cigarettes, over the counter medications, opioids, salty snacks, and of course coffee.
They found that while cigarettes and OTC medications, at $52.8B and $36.5B, respectively, outpaced legal cannabis sales in 2021, marijuana for the first time brought in more revenue than all North American Starbucks sales by a margin of $4B to $6.5B.
Legal cannabis sales in 2021 are estimated to be between $24.5B and $27B, whereas North American Starbucks in the same timeframe earned $20.5B.
According to MJBiz, Starbucks annual revenue in North America grew 25% in the 2021 fiscal year, but legal marijuana saw sales grow by 30%.