$97B in 2021 U.S. Cannabis Sales Fueled by Routine and Intentional Consumption

2.1 min readPublished On: April 26th, 2022By

Washington – New Frontier Data (https://NewFrontierData.com), the data analytics and technology firm specializing in the global cannabis industry, together with Jointly, a cannabis wellness company, have released Cannabis Consumers in America: Dynamics Shaping Normalization in 2022. Since 2018, New Frontier Data has surveyed more than 20,000 consumers to benchmark and analyze cannabis consumer behavior for endemic and non-endemic organizations.

“Cannabis is no longer a one-size-fits-all industry,” noted Gary Allen, CEO, New Frontier Data. “It’s now a commercial imperative for brands, retailers and operators to do the homework required to understand their ideal customer, why they consume and what products they prefer.”

Across both legal and illicit markets, consumption patterns are normalizing to where demographic variables such as age and gender are more influential than market legality in predicting behaviors that are increasingly routine. The report’s findings concluded that cannabis consumers are becoming more intentional with the plant’s use, and the primary reasons for consumption now span relaxation, pain management, improving sleep outcomes, treating medical conditions and improving overall wellness.

“Understanding what drives and defines optimal individual consumer experiences is increasingly important,” said Eric Gutshall, Co-Founder and CDO, Jointly. “As we continue to capture more experiential feedback, our partnership with New Frontier Data will provide the industry with a more holistic view into consumer behavior and preferences.”

Key Report Findings Include:

 

  • Nearly half (46%) of all survey respondents report using cannabis daily as product selection expands with more convenient, discreet and precise consumption methods.
  • With an estimated $97 billion in U.S. legal and illicit sales in 2021, cannabis consumer spending now exceeds spirits ($86 billion), validating the vast market opportunity.
  • Flower accounts for half of all legal sales nationally, but the majority of consumers are now using non-flower products, as the quality and selection of products expands.
  • The collective curiosity of consumers to try new forms of cannabis is fueling product innovation and highlighting the importance of targeted brand and loyalty strategies.
  • Positive outcomes from medical cannabis use are driving increased acceptance as half of medical cannabis patients report their conditions improved significantly and 93% report at least some improvement.

Download a complimentary copy of Cannabis Consumers in America: Dynamics Shaping Normalization in 2022: https://newfrontierdata.com/cannabis-consumers-in-america-2022/.

New Frontier Data will release the second part of the 2022 Consumer Report series later this year which will feature additional consumer survey data.

(This information is primarily sourced from New Frontier Data.  Highly Capitalized has neither approved nor disapproved the contents of this news release. Read our Disclaimer here).

About the Author: News Team

Newsteam at Highly Capitalized are some of the most experienced writers in cannabis and psychedelics business & finance. We cover capital markets, finance, branding, marketing and everything important in between. Most of all, we follow the money.

Share This Story, Choose Your Platform!

Latest News

  • Financial Result, CBD Skin Care Market, Cannabis Testing Market

Global Cannabis Testing Market Analysis Report 2023-2030

February 4th, 2023|

DUBLIN - Global Cannabis Testing Market to Reach $2.8 Billion by 2030 In the changed post COVID-19 business landscape, the global market for Cannabis Testing estimated at US$1.1 Billion in the year 2022, is projected to reach ...