MJBizMag May-June 2023 - 24

2023 FACTBOOK Order your copy today: insights.mjbizdaily.com/factbook
Total businesses
Plant-touching
Ancillary services
165,400
Retailers (Medical and adult use)
16,520
Breakdown of plant-touching businesses
118,200
47,200
66,000
Total planttouching
businesses
66,000
99,400
71,000
NOTE:
Estimates are high end of scale.
2022
Source: MJBizDaily research
2023
Manufacturers 7,000
Producers/processors 3,920
Vertically integrated 3,500
Testing labs 420
© 2023 MJBiz, a division of Emerald X, LLC
Regulated Marijuana Hits Milestone
Cannabis industry will add $100 billion to U.S. economy in 2023,
MJBiz Factbook projects
By Andrew Long
T
he total U.S. economic impact
generated by cannabis sales
is expected to top
$100 billion in 2023, up more than
12% from last year, according to
fresh analysis from the newly
published MJBiz Factbook.
Looking ahead, upward of
$160 billion in additional spending
will be added to the U.S economy in
2027, thanks to the opening
and/or expansion of new
recreational and medical marijuana
markets in states such as New York,
Maryland, Missouri and Kentucky.
To measure the industry's
economic impact, MJBizDaily
analyzed similar industries,
consulted with economists and
applied a standard multiplier
of 2.8 on projected recreational and
22 May-June 2023 | MJBizMagazine
medical marijuana retail sales.
The projections are a best
estimate given the unique nature
of the rapidly expanding marijuana
industry, which is governed by
a patchwork of state laws but
remains illegal under federal law.
Industry Makeup
Marijuana businesses encompass a
range of agricultural, manufacturing
and retail operators as well as nonplant-touching
ancillary companies
such as lighting suppliers and law
and accounting firms.
Some markets also include
cannabis events and hospitality
businesses, which tend to have an
even higher economic impact than
other industries.
The economic impact of the
marijuana industry is not the same
as supply-chain revenue that is
often used to estimate the " total
size " of an industry.
The total amount of U.S. adultuse
and medical cannabis sales, for
example, is expected to reach
$34 billion in 2023, up from a
revised $30 billion in 2022, according
to the new MJBiz Factbook.
Overall Economic Impact
The economic multiplier paints a
picture of the cannabis industry's
impact on the broader economy.
In this case, for every $10 that
consumers and patients spend at
marijuana retailers or dispensaries,
an additional $18 will be injected
into the economy, much of it at the
local level.
Wholesale cultivators
34,720

MJBizMag May-June 2023

Table of Contents for the Digital Edition of MJBizMag May-June 2023

MJBizMag May-June 2023 - 1
MJBizMag May-June 2023 - 2
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MJBizMag May-June 2023 - 54
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https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-march-2023
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-february-2023
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https://www.nxtbook.com/emerald/MJBizMag/202204
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-february-2022
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https://www.nxtbook.com/emerald/MJBizMag/202208
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https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-packaging-automation-buyers-guide-january-2022
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-november-december-2021
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-october-2021
https://www.nxtbook.com/emerald/MJBizMag/mjbizmagazine-september-2021
https://www.nxtbook.com/emerald/MJBizMag/mjbizmagazine-september-2021-lighting-buyers-guide
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https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-july-2021
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-may-june-2021
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-april-2021
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-march-2021
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-february-2021
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-january-2022
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-january-2021
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-november-december-2020
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-october-2020
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-september-2020
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-august-2020
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