Medical marijuana has been green-lighted in more than 40 countries.
Over 40 countries around the world have legalized medical marijuana to some extent. Apart from the multitude of European countries, it might be surprising to know that Thailand, a country that sentences death penalty to those committed for drug trafficking, is cool with medical weed. Strict countries like South Korea, green-lighted pot for medical use.
Weed has been in two countries (with more to follow)
Uruguay and Canada — considered to be weed heaven, have legalized recreational marijuana for adult use. Canada passed the Cannabis Act last year, becoming the first country in the world to allow people to legally and commercially consume pot. Forecasts suggest that by 2022, Canada would be making a whopping $6 billion in full-year sales.
10 US states have approved recreational pot and about 33 allow it for medical purposes
Although marijuana remains an illicit substance at the federal level, it hasn’t stopped 33 states from legalizing the drug for medical purposes. That’s an important stat you would want your pot dealer to know if he’s interested in expanding his ‘service’.
Two-thirds of Americans are ‘for’ weed
People love weed despite all of its huff and puff. That’s a firm development, keeping in mind the fact that only three-fourths of the population wanted to retain weed as an illicit substance back in a survey conducted in 1995. In a recent survey carried out in October 2018, 66% of Americans are vouching to legalize marijuana.
Weed has become a political debate– a BIG win for weed activists
Marijuana legalization has been a trending political issue in recent months. Back in the days, Republicans and senior citizens used to put on their grumpy faces blurting a huge ‘NO’ to weed. They had a pile of negative opinions on pot smoking than any other political party. But in the October survey, it was a pleasure to stoned eyes to see seniors and Republicans express favorability toward legalization for the first time in history. Their support is crucial to make weed great again.
Canada tipped to produce up to 4 million kilos of weed every year
How much pot could Canada produce? The 3 biggest producers, Aurora Cannabis’s 780,000 kilos at its annual peak, Canopy Growth’s up to 550,000 kilos, and Tilray’s more than 100,000 kilos, come close to 3 million kilos. Add that number with another 1 million kilos from mid-level, small growers scattered all over the country. That would sum up to be 4 million kilos a year, attainable by perhaps 2022.
Worldwide sales are bound to climb 38% this year
Though the cannabis industry struggles for federal permissions, it made $12.2 billion in worldwide sales in 2018, according to a report issued by ArcView Market Research and BDS Analytics. In 2019, global sales are expected to increase another 38%, to $16.9 billion, with Canada and California figuring out a way to address supply chain issues with still strict laws in place.
Marijuana could hit $130 billion in sales one day
Analysts at Jefferies have predicted annual pot sales to hit $50 billion by 2029. Potentially, they opine that the estimate for global pot sales to be $130 billion. That’s more than four times what Coca-Cola made in the year 2018.
Weed sales rose 111% in 2018
In 2018, legal marijuana sales shot to 111% from the previous year to $26.6 million. Colorado, topped the chart, far ahead than the others with $9.1 million in sales.