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During the COVID 19 pandemic the global market cap for cannabis was estimated to value 25,650.4B in 2021 and is projected to reach USD 176.5B by 2030 at a compound annual growth rate of 23.9%, 2021-2030. Ever since the pandemic, the cannabis industry now supports 428,059 jobs, 44% of Americans now have access to legal recreational cannabis and 50% of cannabis users have increased their consumption since the pandemic.
BudBlockz will accelerate adoption by increasing accessibility, and professionalizing logistics and data management whilst providing the opportunity for our community to participate in the growing market. As it stands over 30 countries globally have decriminalized cannabis. Within the United States cannabis has been permitted for medical use in 38 states with the development of recreational use still growing with 18 states permitted. The US states with the most cannabis sales as of 2020 are California ($3.8 billion), Colorado ($1.7 billion), and Michigan (1.21 billion).
BudBlockz has strong indications that more jurisdictions will follow suit and produce more legislation for medical and recreational use of cannabis. In preparation for the progressive change, BudBlockz will be releasing our dispensaries, farms and products in cannabis-friendly locations for our community to invest and enjoy our products.