Legal adult use and medical cannabis sales in 2021 topped $24.5 billion, which outpaced the North American sales total of $20.5 billion for Starbucks Corp. (SBUX), according to the MJBiz Factbook released Wednesday. Revenue growth of 30% in the cannabis business also outpaced the 25% growth by Starbucks, the study said. Cannabis sales managed the total with legal business in 39 states and the District of Columbia, compared to sales in all 50 states for Starbucks. By contrast 2021 U.S. cigarettes sales totaled $52.8 billion and global opioid sales amounted to $23.2 billion in 2021. The AdvisorShares Pure US Cannabis ETF (MSOS) is down 2.5% on Wednesday and has lost 43.4% so far in 2022, compared to a 20.6% drop by the Nasdaq .
(END) Dow Jones Newswires
May 04, 2022 10:27 ET (14:27 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.