The U.S. cannabis market has boomed in recent years, totaling $36.94 billion in 2024. Based on new projections, the market is expected to reach $91.10 billion by 2033, a compound annual growth rate (CAGR) of 10.55%.

One primary factor driving market growth is the broadening of legalization for both medical and adult-use cannabis access in various states. The transition from illegal to legal markets, consumer acceptance, and product innovation such as beverages are also contributing factors in market growth.

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