Cannabis Homegrow Market Could Soar to Nearly $4 Billion by 2030, Report Says


As the market continues to grow, the legal cannabis market has ushered in a new era of home growing opportunity. According to a new report, the cannabis home growing market could reach nearly $4 billion by 2030.

That figure takes into account higher (7%) participation rates in fully legal markets in medical (5%) or illegal (4%) markets. Published by top cannabis researcher New Frontier Data, the report, titled The US Cannabis Homegrow Market: Motivations, Processes, and Resultshas a whole host of remarkable findings.

They include as follows:

*Three million (6%) of cannabis consumers grow their own flower in the US;

*Home growers in the US will produce an estimated 11 million pounds of dried flowers in 2022 – more than 13 times the legal flower market in Colorado – rising to more than 15 million pounds by 2030;

*Cannabis consumers growing at home are significantly more likely to have “green fingers” (71% have outdoor edible gardens) and 53% purchase supplies from a local hardware or garden store, suggesting new opportunities for mainstream suppliers;

* With 65% of home growers married or in a relationship, and 46% with children under 18, emphasis should be placed on messages demonstrating that cannabis can be grown safely and responsibly at home as the industry expands ; and,

*With more than half of home growers earning more than $50,000 a year and a quarter making more than $100,000, premium suppliers will find opportunities to serve more affluent growers.

To view the full report, visit here.

Checking out my website or any of my other works here.



Please enter your comment!
Please enter your name here