MJBiz - May/June 2024 - 28

FACTBOOK PREVIEW
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2024 | 12TH EDITION
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© 2011-2024 by MJBizDaily, a division of Emerald X, LLC
U.S. Marijuana Sales
to Exceed $32 Billion
Cannabis sector will add $112.4 billion to U.S. economy in 2024
By Andrew Long
T
he total U.S. economic
impact generated by
regulated marijuana sales
could top $112.4 billion in 2024,
about 12% more than last year,
according to analysis from the
newly released MJBiz Factbook.
While the industry has experienced
sales declines-especially
in mature western markets-the
expansion of new recreational
and medical marijuana facilities
in states such as Maryland,
Missouri and New York continue
to foster growth.
With more new cannabis markets
on the horizon, the industry
will add upward of $200 billion
28 May-June 2024 | MJBizMagazine
in additional spending to the
U.S. economy by 2030.
The projections do not take
into account any action by the
U.S. government such as federal
rescheduling or legalization,
though each could increase
revenue and economic impact.
An Economic Multiplier
To measure the industry's
economic impact, MJBizDaily
analyzed similar industries and
applied a standard multiplier
on projected recreational and
medical marijuana sales.
The economic multiplier
paints a picture of the cannabis
industry's impact on the broader
economy.
This means that for every $1
that consumers and patients
spend at adult-use stores and
MMJ dispensaries, an additional
$2.50 will be injected into the
economy-much of it at the
local level.
The economic impact of the
regulated marijuana industry is
not the same as supply-chain
revenue, which often is used to
estimate the " total size " of an
industry.
According to the MJBiz
Factbook, the total amount
of U.S. adult-use and medical

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MJBiz - May/June 2024

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