How Big Is The Cannabis Advertising Industry?

How Big Is The Cannabis Advertising Industry?

From 2018 to 2030, this statistic shows the amount of advertising spent on cannabis in North America. From 661 million U.S. dollars spent on advertising on marijuana in the region, the source projected expenditures will increase. The dollar value of 2018 grew from 3 to 4. Ten years later, the economy is worth $89 billion.

How Much Does The Cannabis Industry Spend On Advertising?

The advertising spend of mainstream brands will likely shift as they test the waters. Spending on advertising is already growing in this category. According to Kantar, cannabis advertisers spent $370 million on digital display ads in 2019. In the previous year, $238 million was spent.

What Is The Cannabis Market Size?

According to market estimates, the global cannabis market is worth USD 10 billion. In 2018, the market was worth USD 60 billion and is expected to reach USD 97 billion by 2023. By the end of 2026, the market will be worth $35 billion, growing at a CAGR of 32 percent. The forecast period 2019-2026 calls for a growth rate of 92%.

How Much Is The Global Cannabis Industry Worth?

There is a $91 billion market for legal cannabis. CAGR: 26. The global economy is expected to reach $5 billion by 2028. Grand View Research, Inc. is the third largest company.

What Is The Cannabis Industry Worth In 2021?

Depending on the size, maturity, and type of market, the economic impact will vary from state to state. As the largest U.S. market, for example, it is a major player in the industry. Approximately $20 billion will be spent in the state’s economy by the marijuana industry in 2021.

Is Cannabis A Good Industry?

The legal marijuana industry is one of the most important factors. As a result of the pandemic in 2020, the industry experienced a 32% increase in employment. This was one of the worst years for US economic growth in 80 years. A report by Leafly Jobs in 2021 indicates that the industry added over 77,000 jobs.

How Is Cannabis Advertised?

Cannabis advertisements are only allowed to be displayed in areas with at least 71 percent of cannabis content, according to section 26151 of California’s Proposition 64. Approximately 6 percent of the audience is believed to be over 21 years old. In addition to broadcast, cable, radio, print, and digital communications, this includes advertisements in newspapers.

How Much Is The Legal Cannabis Industry Worth 2020?

In 2020, cannabis sales in the United States are expected to increase 67%. 68% of Americans support legal marijuana, the highest level ever recorded. The U. There are 61 billion dollars in revenue from the cannabis industry. A 67% decline in cannabis capital raises was recorded in 2020.

How Big Is The Cannabis Industry Worldwide?

According to market estimates, the legal cannabis market will reach USD 91 billion by 2020. A CAGR of 26 percent is expected between now and 2028, which will bring in $5 billion. In the forecast period, the economy is expected to grow by 3%. Cannabis usage is gaining momentum due to recent legalization in several countries around the world.

How Big Is The Medical Cannabis Market?

The medical cannabis market in the United States is expected to reach over 11 billion U.S. dollars by 2025, according to some estimates. By 2024, the United States will have spent more than $1 trillion. This would be more than double the amount reported for 2019.

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