A new study provides data showing that nearly half of people who currently use cannabis in North America are over 40 years of age. This comes as a bit of a surprise as the current mindset seems to be that most cannabis users are in younger demographics. This insight came alongside a number of other interesting data points about the cannabis industry demographics.
The data for this study comes from Akerna, a cannabis company that works with software, compliance technology, seed-to-sale research planning, and business applications for the cannabis industry across North America. Akerna was started in 2010 and has monitored more than $20 billion in cannabis earnings so far and is the first cannabis software company listed on Nasdaq stock exchange. MJ Platform is the provider’s cornerstone technology and is the world’s top software as a service (SAAS) infrastructure for retailers, brands, manufacturers, distributors, and cultivators.
It researched North American cannabis consumer data to reveal profound insights about the cannabis industry demographics and how it functions, to help companies better prepare for the coming months.
According to the breakdown in the Akerna study, which looked at the different type of cannabis consumption methods, in addition to age and sex of cannabis users, flower has become the most popular way to consume cannabis in the United States, with cannabis edibles being the least popular besides the “other group”. Results showed that more men than women are cannabis users, with men reported at 62.5% and women reported at 37.5%.
Along with studying the numbers for cannabis dispensaries sales and the different types of cannabis consumed, the study also analyzed the numbers for reported use. Typically, the amounts mirrored each other, revealing people reported correctly about what they actually consumed. James Ahrendt, Business Intelligence Architect for Akerna, stated, “Some of this confirms what we already know, that flower is the most popular consumption method, however, we also discovered some surprising data points. For example, medical consumers on average spend more and buy more things than their adult use counterparts.”
Among the most surprising things learned from the analysis that has warranted interest is the breakdown of age use demographics.
Aged under-30 – 26.7%
Aged 30 to 40 – 29.7%
Aged 40 to 50 – 19.5%
Aged 50 to 60 – 13.2%
Aged 60-plus – 10.9%
That puts just over 43% of the total reported users at 40 years of age or older. That is definitely a surprise to most industry experts when it comes to important cannabis industry demographics.