Why it matters:
The report is important because it analyzed the cannabis consumer demographics and trends, showing that cannabis consumers are very diverse with users spread across different age groups, genders, economic brackets, and political affiliations. This further indicates the growing acceptance and receptiveness of cannabis, with 42% of U.S. adults having used cannabis and likely to use it again, and another 15% interested in trying cannabis in the future.
What they are saying:
The report shows that 37% of U.S. adults are considered to be “current consumers,” who either consume pot annually and plan to do so in the future, while 30% of Americans have never used pot and do not intend to. Additionally, 15% of Americans have never tried cannabis but are interested in doing so, and 13% are former consumers who no longer partake. Moreover, flower dominates most product share sales at 43%, followed by vapes at 29%, and edibles (including beverages) at 11%.
The big picture:
The survey analyzed 5,534 participants between cannabis consumers and non-cannabis consumers. Furthermore, the survey found that adults between 18-20 have decreased by 8%, while those between 21-25 have increased by 20%. This increase is also observed in older age groups, with adults aged 65+ having a 96% increase, and those ages 40-44 having a 64% increase. Across the board, all age groups increased significantly, with the exception of the 18–20-year-olds.
What to watch:
The report concludes that cannabis consumers today are very diverse, with users spread across different demographics, and the acceptance and receptiveness of cannabis are growing. Policymakers, cannabis businesses, and investors should keep an eye on the report’s trends and demographics to make informed decisions.
My take:
The report shows a significant increase in cannabis consumers and the acceptance of cannabis in the US. Policymakers, businesses, and investors should leverage the report’s data to invest in the emerging markets and prepare for future trends. With the continued legalization of cannabis across the US and in other parts of the world, more studies like this will help inform policymakers and businesses about the cannabis consumer trends and demographics.
