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Worldwide legal cannabis industry revenue is forecast to grow another 38% to $20.4 billion in 2020, and sales are forecast to reach $46.8 billion in 2025, growing at a 21.2% CAGR 2019-2025.
In 2019, U.S. legal cannabis spending increased 36.5% to $12.4 billion. The report addresses several key features of the U.S. market that will support a compound annual growth rate (CAGR) of 18.2% to $33.9 billion in 2025.
- Emerging Adult-Use Markets (those launched between Jan. 1, 2017 and Jan. 1, 2020) were the biggest component of the market at $5.1 billion in 2019. Most are faring much better than the largest U.S. market of California: Massachusetts total revenue grew 170% in its first full year of adult-use sales while California struggled to grow sales 18% in 2019 following the launch of adult-use in January 2018.
- Even Mature Adult-Use Markets (launched before 2017) can show news signs of life: Colorado cannabis revenue jumped 13% to $1.7 billion in 2019 compared to just 3% growth in 2018.
- Emerging Medical Markets (launched in the last three years) also posted large gains in 2019: Pennsylvania revenue hit $420 million in its second year of sales, and Oklahoma sales increased to $365 million.
- Even Mature Medical Markets (launched before 2017) can show explosive growth: Hawaii’s sales were up 90% and Puerto Rico’s 100% in 2019.
- Looking ahead, 20 New Medical Markets will add $2.2 billion in spending to the market by 2025, led by Texas, Missouri and Georgia.
- New Adult-Use Markets are forecast to add $8 billion in sales between 2019 and 2025, led by Florida, New York and New Jersey.
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What You’ll Find Inside
If you are an entrepreneur, investor, or regulator that will be making expensive decisions over the next year about your involvement in this industry, then you need the best information and analysis available.
Current political climate’s impact on the future of the US cannabis market
Effects of Canadian adult-use legalization on all of North America
County-by-county regulatory breakdown of California
Breakdowns and growth-trend analysis for flower, concentrates and edibles
Listings of the top companies in the key sectors
Analysis of both the public and private investment landscape
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