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Monday, January 30, 2023

Total US cannabis supply to reach £48.8m in 2022: Whitney Economics

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The total amount of cultivated of cannabis – both legal and illegal in all form factors – in the United States will exceed 48.8 million pounds in 2022, marijuana and hemp business research firm Whitney Economics has calculated.

According to a news release announcing the 2022 U.S. Cannabis Supply Report, Beau Whitney, chief economist at the Portland, Oregon-based research firm, said the total legal cultivation capacity is greater than the entire country’s demand – if 100% of the licensed product is used.

The report also:

  • Projects there will be more legal cannabis than illicit cannabis in the country beginning in 2026.
  • Estimates that total legal cannabis sales will reach $29.3 billion by the end of this year and $81.6 billion by 2030.

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