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.

“The U.S. cannabis market is projected to continue seeing steady growth over the next few years, driven largely by the opening of new and emerging adult-use markets,” Roy Bingham CEO of BDSA told Benzinga. “In today’s inflationary environment, competition surrounding pricing and supply is expected to increase as adoption rate begins to slow in established markets.” 

“Globally, several emerging markets are poised for strong growth in the coming years as consumer awareness and adoption continues to ramp up for both medical and recreational use,” Bingham added. 

Price Erosion, Over-Supply and …

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