Americans Will Spend Twice As Much On Cannabis Than Milk
Americans Will Spend Twice As Much On Cannabis Than Milk In 2021
Business

Americans Will Spend Twice As Much On Cannabis Than Milk In 2021

Americans Will Spend Twice As Much On Cannabis Than Milk In 2021
Business

Americans Will Spend Twice As Much On Cannabis Than Milk In 2021

Author James Eason
Published Jul 19, 2021
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In 2020, according to the Dairy Farmers of America, Americans spent $12.6 billion on milk.

Just halfway through 2021, according to data analyzed by Leafly and Whitney Economics, Americans spent more than that on legal cannabis products, and could end the year with as much as $25 billion in total sales — a year-over-year increase of approximately 35%. Ancillary cannabis products such as prescription vials have also seen an increase in sales due to the “Green Rush.”

Several states can point to dramatic successes.

Legal cannabis sales in Massachusetts have risen 70% from 2020 — on pace to reach $1.2 billion.

As the weather warmed up in Michigan so did monthly cannabis sales — from $100 million up to $150 million in March and April. If the trend continues, Michigan would show a 65% sales increase with $1.6 billion in total sales.

Illinois sales are heading toward $1.2 billion for 2021 — a 20% increase from 2020. Political battles over licensing and equity have slowed the state’s rollout of retail cannabis stores.

Based on the latest sales data, Whitney Economics increased its 2021 forecast from $22.2 billion to $25.0 billion, and increased its 2025 forecast to $44.9 billion

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