Nielsen Says Legal Cannabis Sales in US to Touch $41 Billion
Nielsen predicts legal cannabis sales in the US to reach $41billion by 2025.
Cannabis was brought into the light in Nielsen Company’s 2019 Total Consumer Report. The data and information company predicted the sales of cannabis consumer packaged goods to rise five times of 2018’s sales.
They estimate that the sales of all legal cannabis items in the U.S. could reach $41 billion by 2025. This incorporates all items made from the marijuana plant and the hemp plant and all mixes made from cannabis sativa.
This was just one piece of information that Nielsen revealed in the report and the supporting analysis - “Brace For Impact : US CPG Cannabis Sales To Rise By The Billions”. Through these reports, Nielsen gave some intriguing bits of knowledge into the cannabis market and cannabis-intrigued purchasers, particularly when looking at how the business has developed from 2014, when cannabis was legitimate just crosswise over two states, to 2018, when legalization turned out to be increasingly far reaching.
Image Source: The Nielsen Company
It’s the perfect time to enter the US market with your cannabis business. Here’s how
During this timespan, as more sorts of products and techniques for cannabis usage wound up accessible, individuals' preferences for how they were expending turned out to be increasingly different. In 2014, 77% of legitimate buyers were purchasing bloom, contrasted with 48% of offers being ascribed to blossom in 2018. Vapor pen deals ascended from 4% to 19% over this timeframe. Edibles remained moderately stale with an individual 9% and 11% of offers in 2014 and 2018. Different arrangements, like capsules, drinks, topicals and tinctures ascended from 10% to 22%.
Reports show that there has been a noteworthy brand blast in the course of the most recent four years that can't be overlooked. In 2014, just 166 cannabis brands existed, contrasted with the 2,650 that currently make up the cannabis business' image program, becoming sevenfold in four years.
In addition to the fact that Nielsen dug into purchaser information to endeavor to foresee the fate of the cannabis business, yet they additionally discharged some intriguing information put together bits of knowledge with respect to the normal "cannabis-intrigued" U.S. native:
In addition to Nielsen’s purchaser information to see the future of the cannabis business, they also dug into some intriguing information and put together insights on the average cannabis interested US citizen.
- They are twice as likely to have tobacco products in their household, with cannabis-interested adults making up 65% of the population who are trying to quit smoking. Forty-one percent of whom would consider using cannabis for smoking cessation;
- They are 41% more likely to drink beer, with 1 in 5 cannabis consumers saying they spend less on store-bought beer as a result of consuming cannabis;
- They are 36% more likely to have neck and back pain, with 65% of cannabis-interested consumers using over-the-counter pain medications to manage pain, and 35% of that group considering using cannabis as a replacement to these OTC medications
Nielsen is an overall information and data worldwide research firm that gives solid and target data on promoting and deals program. Most generally known for the "Nielsen Ratings", a group of people estimation framework, Nielsen additionally gives information and data to socioeconomics, CPG and retail, and markets and funds.
Join industry professionals and take a walk around the 2020 Cannabis Drinks Expo. Click here to register.
Cannabis drinks industry leaders are planning to meet in San Francisco, California in July 2020 at the Cannabis Drinks Expo. The event, which is being organized by Beverage Trade Network, will mark the biggest global gathering of the cannabis drinks industry and is expected to draw some of the biggest names from within the industry.
With the cannabis drinks industry currently segmented along with a state-by-state basis, the Cannabis Drinks Expo will be an attempt to widen the perspective of market participants on the national dimensions of the industry. Regulatory and legal changes at the state level are now showing the potential to be expanded to a truly national level, and that has raised the interest level of all participants within the global drinks industry.
The two-day expo in San Francisco will feature wine and cannabis industry experts, distributors and retailers, as well as political and legal analysts, medical researchers, and marketing & branding experts. They will discuss topics such as the current regulatory and policy landscape for cannabis drinks, licensing requirements, and market opportunities within the hospitality and tourism sectors.
In addition to a trade show floor showcasing the latest products and services, the expo will feature a one-day business conference. Speakers from the cannabis drinks industry will discuss a range of important topics, including:
- What innovations are coming to market soon in the cannabis drinks industry
- Insights and observations about the current legal and regulatory environment
- New business models for the cannabis drinks industry
- New routes to market and distribution channels for the cannabis drinks industry
Exhibitor registration for Cannabis Drinks Expo is now open, but spaces are limited and will be allocated on a first-come, first-serve basis.
About Beverage Trade Network
Beverage Trade Network (BTN) organizes events for the alcohol beverage trade around the world, including events in New York, San Francisco, and London. In addition to hosting events like the USA Trade Tasting (USATT) and the International Bulk Wine & Spirits Show (IBWSS), Beverage Trade Network also provides a wide range of editorial, business services and consulting services for members of the wine, beer and spirits industries.
Beverage Trade Network
501 Silverside Road Suite 77,
Wilmington, DE 19809
Phone No. +1 855 481 1112
About Cannabis Drinks Expo
Cannabis Drinks Expo is a must-attend event for those curiously eying the future of the burgeoning U.S. cannabis industry.
We also cover the key issues surrounding the likelihood and timescale for legalization to other countries, as well as the impact of legalized cannabis on the traditional alcoholic and non-alcoholic drinks markets globally.
Who should Visit?
Cannabis Drinks Expo promises to be relevant for anyone involved in the development, production, distribution and retailing of cannabis and related products. It will also provide a vital networking opportunity for political analysts, medical experts and those involved in the development and implementation of legalized cannabis into new markets.
Attend Cannabis Drinks Expo in preferred city
Who should exhibit?
If you’re serious about the cannabis drinks category, we’re still keeping it as real as ever. At Cannabis Drinks Expo, our goal is to empower you with knowledge, network, and platform so you can grow and build your cannabis drinks business. CDE is where you will find cannabis brands and suppliers who are serious about building their business in this category exhibit.
Exhibit in preferred city
Potential exhibitors include (but not limited to): Medical marijuana producers, Cannabis growers, Cannabis producers/ product developers, Cannabis processors, Cannabis distributors/transporters, Wineries, Breweries, Distilleries, Branded drinks companies, Drinks manufacturers/producers, Pharma companies, Equipments and service providers, CBD manufacturers, Marijuana-Infused products and edibles providers, Testing and laboratory services, Logistics and supply chain operators, Drinks distributors/wholesalers, Drinks importers, Lobbyists/ public affairs businesses, Political advisors, and more.