Global Cannabis Industry Statistics and the Seed-to-Sale Software To Keep Track

Understanding global cannabis industry data and finding a software solution to manage, track and report your own business’s data is imperative.

The cannabis industry is one of the fastest-growing industries in the world. With new markets opening up and more people using cannabis, it’s important to stay up-to-date on the latest market trends, cannabis industry statistics, and Cannabis SOPs. Keeping up with all this cannabis data can be a challenge for many business owners, but thankfully there is Cannabis Software that can help you track it.

As the cannabis industry continues to grow, cannabis software solutions play a pivotal role in its success and helping businesses stay compliant and organized in the industry. In this blog post, we’ll take a look at the top global cannabis industry data gathered by New Frontier Data last year and explore how seed-to-sale software can help you stay on top of the latest information.

Cannabis Industry Statistics: A Look at the Numbers

Cannabis is legal in some form in 70 countries around the world for medical use, 10 of those being legalized for adult use and this number is only growing. A big part of this growth will be driven by the growing demand for general cannabis and CBD-based products, and the increasing use of hemp in construction and automotive applications. 

The international cannabis market is undergoing a significant transformation from a controlled substance to a legal product. Regulatory reforms are expected to boost the growth of the medical cannabis market.

With most countries having legalized medical cannabis, an opportunity for the companies to establish their business in these regions has been established, especially with the help of cannabis funding. This movement is expected to make it easy for companies and large-scale manufacturers to access the end-user segment and increase their profit margins.

This Cannabis Industry is booming with potential. Here are some key statistics that can help you better understand the state of the global industry:

Global Spending on Cannabis

Legal cannabis sales worldwide in 2022 are estimated to be USD 22 billion and reach USD 33.6 billion in 2025. Legal medical cannabis sales worldwide are estimated to be USD 14.7 billion in 2022 and USD 17.5 billion in 2025. Cannabis regulation varies across the world with some countries developing fully regulated markets and others opting for decriminalization. Cannabis remains an emerging market in many countries due to high taxes and regulatory restrictions.

There are an estimated 268 million cannabis consumers globally with North America having the largest share (96.8%) of legal cannabis sales worldwide. Sales of high-THC cannabis through regulated markets totalled USD 23.7 billion in 2020. Globally, medical cannabis has been the main driver of legalization. Many countries in Europe and Latin America have taken a pharmaceutical approach to regulation or have done so by the expansion of private clinics with on-site physicians prescribing cannabis.

Asia is the world’s largest market (45%), with North America (22%) and Europe (19%) following. Asia’s industry dominance is due to the size of the overall region which is home to nearly 60% of the world’s population. This data includes legal and illegal sales. 

Cannabis Usage Rates

North America, Oceania, and Africa have the highest rates of cannabis use respectively. Israel has the highest density of cannabis consumers with Jamaica, the United States, and Canada following. These high usage rates have supported the advancement of legalization and the establishment of robust regulated markets in both Canada and the US. 

Global Cannabis Prices

The price per gram for high-THC Cannabis Flower varies from USD 15 to USD 3. Africa remains the lowest due to lower relative wealth per capita levels across African populations. Oceania and Asia have the highest prices due to harsh penalties for possession, sale, or use as well as lower levels of social acceptance. In many markets where legal products exist, industry players are competing with the illicit markets resulting in falling prices. 

Looking at the Future of the Industry

With more than 268 million cannabis consumers globally, social acceptance and normalization of cannabis use will become a standard, unveiling a massive consumer group with great buying potential. Industry spending reveals a long-term market opportunity with more emphasis on standard operating procedures and education. With this industry growth will come new employment opportunities, boosting economies, and resulting in safer consumption.

Cannabis Seed-to-Sale Software

New technology and software solutions are making it easier for businesses to get involved in the cannabis industry. Cannabis software solutions enable businesses to track inventory, manage compliance, and optimize their supply chain from seed-to-sale. It has become a necessity for companies looking to compete in the rapidly growing industry to use Cannabis software solutions to manage their data.

A good seed-to-sale software like GrowerIQ enables you to track real-time metrics and see historical environmental data for each batch of cannabis grown. These key metrics allow you to plant better, anticipate your yields, and project your finances.

Our many software capabilities such as QMS, CRM, ERP modules, and high-level integrations make the entire growing and selling of cannabis an accurate and traceable process, allowing you to manage your data with compliance in mind.

Find Out More

Consult with GrowerIQ to ensure that your business has the best Seed-to-Sale software solutions. Our software lets you run an efficient and compliant business. Click the button below to try the software.