MJBiz - August 2023 - 21

JUST THE FACTS
Marijuana Market Size
egal marijuana market in the world
pares in size to others.
total about $5.4 billion
this year.
ales ...
al
e
The sheer scope of Calmarkets
mpares
to
tes and
ifornia's cannabis market
is not surprising, given
that the state's GDP for
2022 ($3.6 trillion) would
rank fifth worldwide
if it were a country,
somewhere between
Germany ($4.2 trillion) and India
($3.2 trillion).
In addition, marijuana has taken
Barbados GDP
$6.1B
California grapes (2022)
$5.5B
its place as one of California's leading
agricultural products, rivaling or
exceeding two key crops.
In 2022, grape production in the
state-known for its world-class
wine industry-was valued at
$5.5 billion, followed by
almonds at $3.5 billion.
Most other U.S. marijuana
markets have just
a fraction of California's
sales.
The 2023 MJBiz Factbook is
available now. Find it at
MJBizDaily.com/factbook
Michigan, the No. 2
American marijuana
market in terms of
sales, is projected to
bring in about half as much in
consumer purchases as California
will this year-$3.1 billion in combined
recreational and medical
marijuana sales.
California won't see much competition
until U.S. states with large
populations ramp up their markets,
such as New York-or, in the case of
Pennsylvania, approve the sale of
recreational marijuana.
Of course, the same could be said
for the opening of legal recreational
markets in countries such as
Germany.
Legal cannabis sales data in the
international market is hard to
come by.
But Canada, arguably the largest
legal adult-use market outside the
U.S., accounted for only $3.4 billion
in recreational sales in 2022.
Andrew Long is a data journalist
at MJBizDaily. He can be reached at
andrew.long@mjbizdaily.com.
Visit MJBizDaily.com/factbook.
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Look for New York
and other new
Eastern markets to
compete with
California in the
coming years.

http://www.MJBizDaily.com/factbook http://www.MJBizDaily.com/factbook https://go.thermalcare.com/MJBiz2023-NQV-KSE-SPB

MJBiz - August 2023

Table of Contents for the Digital Edition of MJBiz - August 2023

MJBiz - August 2023 - CT1
MJBiz - August 2023 - CT2
MJBiz - August 2023 - Cover1
MJBiz - August 2023 - Cover2
MJBiz - August 2023 - 3
MJBiz - August 2023 - 4
MJBiz - August 2023 - 5
MJBiz - August 2023 - 6
MJBiz - August 2023 - 7
MJBiz - August 2023 - 8
MJBiz - August 2023 - 9
MJBiz - August 2023 - 10
MJBiz - August 2023 - 11
MJBiz - August 2023 - 12
MJBiz - August 2023 - 13
MJBiz - August 2023 - 14
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MJBiz - August 2023 - 17
MJBiz - August 2023 - 18
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MJBiz - August 2023 - 20
MJBiz - August 2023 - 21
MJBiz - August 2023 - 22
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MJBiz - August 2023 - 33
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MJBiz - August 2023 - 37
MJBiz - August 2023 - 38
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MJBiz - August 2023 - 40
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MJBiz - August 2023 - 49
MJBiz - August 2023 - 50
MJBiz - August 2023 - Cover3
MJBiz - August 2023 - Cover4
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