04.07.22
Global cannabis sales are expected to reach just over $35 billion in 2022, a jump of approximately 22% over 2021 sales of $29 billion, according to BDSA’s most recent five-year rolling market forecast update. BDSA forecasts global cannabis sales will surpass $61 billion in 2026, a compound annual growth rate (CAGR) of more than 16%.
“Though most legal cannabis markets saw sales soften in the second half of 2021, the global cannabis market is expected to see brisk growth in 2022, driven by strong sales in new and emerging markets in the U.S., steady growth in Canada, and international markets led by Mexico and Germany,” said Jessica Lukas, chief commercial officer at BDSA.
Looking back at 2021, new markets in the U.S. experienced some of the strongest growth, especially in the Midwest. Illinois sales grew approximately 70% in 2021, totaling $1.8 billion, while Missouri’s medical-only market reached an unexpected high of $210 million.
Emerging markets are
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