The cannabis industry has been experiencing rapid growth in recent years, with sales projected to increase by up to 35% annually. This growth is fueled by both increasing support for legalization and the rising demand for cannabis products. As a result, it’s interesting to explore which cities around the world consume the most marijuana per year. In this article, we will delve into the cities with the highest weed consumption, providing insights into their unique cannabis landscapes.
The Global Cannabis Market
Before we dive into the list, let’s take a moment to understand the global cannabis industry. Fortune Business Insights reported that the global cannabis market valued at $47.32 billion in 2022. It projects a growth to $444.34 billion by 2030, with a CAGR of 34%. This tremendous growth results from the increasing recognition of cannabis’s medicinal benefits and therapeutic applications.
Cannabis Industry in Thailand
In June 2022, Thailand became the first Asian country to decriminalize the cultivation, distribution, marketing, and consumption of cannabis. The Thai government aims to monetize the cannabis plant as a lucrative cash crop. Thus, expecting the national cannabis industry to exceed $2 billion. This move not only can alleviate rural poverty but also can address prison overcrowding, as a significant portion of inmates in Thai prisons are incarcerated on drug-related charges.
Extinction Event in the Largest Cannabis Market in the World
California, with its $5.3 billion legal cannabis sales in 2022, is the largest cannabis market globally. However, the state’s cannabis industry is facing challenges, with many pot shops struggling to stay afloat due to tax payment issues. A change in tax law has shifted the burden of paying cannabis excise taxes from distributors to retailers, leading to financial difficulties for many businesses. This situation could potentially result in an “extinction event” for some pot shops in California.
Cannabis Infused Drinks
The cannabis drinks segment is one of the fastest-growing areas in the cannabis industry. Major beverage companies like Constellation Brands and Anheuser-Busch InBev have already entered this market. However, their efforts haven’t always been successful. Constellation Brands, for example, invested $4 billion in Canopy Growth but faced financial challenges. Similarly, Anheuser-Busch InBev ventured into cannabis-infused drinks but eventually parted ways with its partner.
Cities with the Highest Weed Consumption
Now, let’s explore the cities with the highest weed consumption per metric ton. It’s important to note that this data is based on Seedo’s “2018 Cannabis Price Index,” which analyzed the price per gram of marijuana, potential tax revenue, and consumption levels in 120 cities worldwide.
- New York, USA: With a total consumption of 77.44 metric tons, New York tops the list of cities with the highest weed consumption. The city’s vibrant cannabis culture and large population contribute to its high consumption levels.
- : Karachi ranks second, with a total consumption of 41.95 metric tons. Despite cannabis being illegal in Pakistan, the city’s lax enforcement and cultural acceptance contribute to its high consumption levels.
- New Delhi, India: New Delhi, the capital city of India, consumes approximately 38.26 metric tons of weed per year. While recreational cannabis is illegal in India, the country has a long history of cannabis use for cultural and medicinal purposes.
- Los Angeles, USA: As one of the major cannabis hubs in the United States, Los Angeles consumes around 36.06 metric tons of weed annually. With the legalization of recreational marijuana in California, consumption levels are to rise further.
- Cairo, Egypt: Despite cannabis being illegal in Egypt, Cairo consumes approximately 32.59 metric tons per year. The city’s proximity to major cannabis-producing regions and cultural factors contribute to its high consumption levels.
The remaining cities on the list include Philadelphia, Montreal, Melbourne, Phoenix, Hamburg, Vienna, Prague, Houston, Tokyo, and others. Each city has its unique cannabis landscape and factors contributing to its consumption levels.
In conclusion, the consumption of cannabis varies significantly across different cities worldwide. Factors such as cultural acceptance, legalization status, and population size play key roles in determining consumption levels. As the cannabis industry continues to grow, it’s essential to monitor these consumption trends to understand the evolving global cannabis landscape.