PARAMUS, N.J., May 1, 2018 /PRNewswire-iReach/ — Cannabis trade shows company, CWCBExpo, shares ten facts that relay relevant and useful data about the marijuana industry.
Debate over cannabis legalization drives several important discussions. While experts debate facts vs. myths and the public talks about whether legalizing cannabis would disrupt illegal drug trafficking, it’s essential to look at industry facts as these are what will drive decision making, and ultimately, policy.
10 Facts about the Cannabis Industry
Marijuana is legal in more than half the United States. During the first year that cannabis was legal in Colorado, the mid-west state collected approximately $70 million in tax revenue from its sales—nearly twice the amount collected from the sale of alcohol. Compared to the national average, more women hold executive positions in the cannabis industry than men. In the marijuana industry, approximately 63% of senior-level testing lab positions are held by women. Colorado, Kentucky, Minnesota, Nevada, New York, North Carolina, North Dakota, Oregon, Tennessee, and Vermont are the top ten hemp-growing states of recent years. The first dispensaries opened in Hawaii in 2017. Now, there are over 20,000 registered medical marijuana patients in Hawaii— the largest growth in registered users occurred in 2017 when the dispensaries opened. Germany has one of the largest medical marijuana markets in the world, if not the largest. This year it imported most of its cannabis from Canada. Germany also imports cannabis from the Czech Republic, Australia, and Israel. Between 2016 and 2017, word of mouth advertising was the most effective form of marketing for ancillary cannabis businesses. Social media marketing was the most effective form of advertising for plant touching businesses. On average, one-quarter of marijuana businesses are owned or founded by women—this includes approximately 43% of ancillary services firms, 33% of testing labs, 30% of ancillary