Article by Melia Robinson, Business Insider
Legal weed in North America is expected to reach $22.6 billion in revenue in 2021. But many won’t be spending their money on marijuana the way they do today.
Recreational cannabis spending is expected to outpace medical marijuana sales for the first time in 2019, according to a comprehensive new report from Arcview Market Research.
It means new users will likely flood the recreational market in the next few years, with some switching over from medical marijuana programs in their states. California and Canada, which could legalize marijuana outright as early as July 1, 2018, are projected to drive major growth because of their population sizes.
A majority of Americans live in states that have access to the drug for medical use. But as the recreational market ramps up, some users could see a change in the way they buy bud.
Tom Adams, editor in chief of Arcview Market Research, says for medical marijuana patients in states that have since legalized marijuana outright, “their lives have not changed much.”
“They go into the same stores — or even nicer or bigger stores, now that there are a lot more of them — and they just shop at the medical cash register,” Adams says.
(Dispensaries often times have a counter for recreational sales and a counter for medical sales, or the retail shops specialize in one market. Washington folded its medical market in 2015.)
The biggest difference in how medical and non-medical users pay for pot might be taxation.