
The United States cannabis industry is growing at unprecedented rates as efforts to legalize cannabis nationwide draw new consumers to the market each year, becoming a multibillion-dollar industry in key states. With the upped demand, real estate companies and retailers are bulking up their resources to expand their market share, according to an MJ Freeway and New Frontier Data survey.
According to the data, U.S. cannabis sales from consumers 55 years or older increased by 50% since 2015. Well known as baby boomers, this consumer group now accounts for 29% of medical marijuana sales and a quarter of all sales.
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