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Below is a complimentary excerpt from an institutional research note written by our Cannabis analysts Howard Penney and Daniel Biolsi. If you are an institutional investor interested in accessing our research email sales@hedgeye.com |
Americans are using more marijuana, and the usage increase is concentrated among the ≥26 YOA cohort as opposed to the underage 12-17 YOA users.
According to the federal government’s annual National Survey on Drug Use and Health, usage among 12-17 YOA, 18-25 YOA, and ≥26 YOA all increased in 2019.
Compared to a decade ago, the share of teenage respondents between the ages of 12 and 17 that reported past year marijuana use declined by 50 bps to 13.2% last year.
In that same period, the 18-25 age group grew by 460 bps to 35.4% last year, while the share of adults 26 or over spiked by 750 bps to 15.2% last year.
These trends come as more and more states have legalized either medical-use or recreational, and contrary to the fears of anti-legalization groups, youths are not significantly increasing their usage of cannabis.
