There’s Untapped Potential in the Billion-Dollar U.S. Homegrow Market
Today’s legal industry focuses heavily on the retail and cultivation space, and as a result, conversations and awareness around homegrowers are few and far between. Despite the lack of noise in this arena, more than 3 million Americans are exercising their newfound right to grow cannabis at home — a group that’s estimated to spend nearly $29 billion on homegrow supplies from 2022 to 2030 according to a detailed 46-page homegrow market report from New Frontier Data . Retailers and cultivators alike are wise to pay attention to this growing trend . Who are these Americans, why are they growing their plants at home, and how can operators provide a service that either brings them back into the dispensary or capitalizes on their homegrowing efforts? 3 Million Americans Grow Their Cannabis: But Why? Most American homgrowers are in it for pleasure, with 73 percent reporting they enjoy it as a hobby. Price and convenience were the next two largest motivators reported at 53 percent and 48 pe...