By John Persinos
Welcome to Weed Nation. Marijuana is becoming as ubiquitous in the United States among average consumers as coffee, soda, or burgers. If you think you've missed out on the marijuana boom, think again. The room for growth in the cannabis sector remains enormous.
Marijuana has emerged as a consumer staple and as such, the industry is recession-resistant. In fact, global food and beverage conglomerates are buying up companies that make branded marijuana products, including everything from cannabis-infused beer to THC-laced gummy bears. This trend is set to accelerate in 2023.
According to a new report released March 1 by the research firm New Frontier Data, an estimated 54 million U.S. adults will consume cannabis in some form at least once in 2023 throughout both legal and unregulated markets. That level of consumer activity is expected to grow by about 4% annually over the next eight years, reaching an estimated 69 million U.S. consumers by 2030 (see the following chart).
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