Cannabis Sales Outpace Those of Viagra, Cialis Combined

You don’t have to be involved in the cannabis industry to recognize its recent exponential growth. In fact, since the legal industry didn’t exist even a decade ago, it’s safe to say that its growth is truly unprecedented.

MJ Biz Daily just released its annual Factbook report, and it’s full of fascinating statistics regarding the state of the industry. For instance, regulated cannabis sales in the U.S. brought in $4 – 4.5 billion in 2016. That’s over $1 billion more than Americans spent on Viagra and Cialis last year, combined. In 2017, recreational sales are expected to surpass medical sales for the first time.

 

The authors of the study have estimated that total annual cannabis sales – including the black market –  total between $45 – 50 billion. That means Americans are spending more on cannabis than on movie tickets, ice cream, frozen pizza, and tequila combined. That also means that the government is missing out on a lot of available tax dollars.

 One of the most interesting statistics covered in the Factbook regards the number of people employed by the cannabis industry (165,000 – 230,000). That number includes “plant-touching companies and ancillary companies that glean a sizable portion of their revenue from the marijuana industry.” If the Factbook’s estimate is correct, more people work in the cannabis industry than work as massage therapists.

The Green Solution® is proud to be part of such a dynamic industry, and we look forward to being part of its future.