BDSA, a leading cannabis data firm, recently announced an update of its cannabis market forecast, a five-year rolling global forecast by country, state, province, channel and category.

The report projects annual global cannabis sales to grow from $30 billion in 2021 to $57 billion in 2026, a compound annual growth rate (CAGR) of almost 13%.

Specifically, in the United States cannabis sales will grow from $25 billion in 2021 to $42 billion in 2026, which will make up 75% of total global cannabis sales.

"Despite an inflationary environment and concerns about recession that dampened consumer spending, legal cannabis sales in the U.S. will reach $27 billion by the end of 2022, a jump of 7% over 2021 sales of $25 billion," stated the report.

Price Erosion, Over-Supply and New Markets

According to Roy Bingham, CEO of BDSA, “the ‘hockey stick’ trend of sales growth seen in the early years of legal cannabis has passed, while "economic and regulatory headwinds are exerting pressure on legal cannabis markets."

“Still, our updated forecast predicts that steady gains in developing U.S. markets will continue to drive single-digit annual growth in total U.S. …

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