+ 1.24
+ 0.41%
+ 2.49
+ 0.83%
+ 3.11
+ 0.85%

Cannabis Sales To Reach $47 Billion By 2025, BDSA Forecasts

October 8, 2020 2:37 pm
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More

Worldwide cannabis sales are expected to grow at a 22% compounded annual growth rate (CAGR) between 2020 and 2025.

That's according to a new forecast from BDSA (formerly BDS Analytics).

The firm predicts:

  • U.S. cannabis sales should reach $34.5 billion by 2025, increasing at an 18% CAGR.
  • Canadian sales will top $6 billion, rising at a 26% CAGR.
  • The rest of world will see sales increase to $6.5 billion, at a 45% CAGR.
  • Mexico, Germany and the U.K. will see significant levels of growth.

“We anticipate the cannabis market to continue and accelerate its dynamic growth, as more states legalize sales, other states relax restrictions and consumer acceptance increases,” said Roy Bingham, co-founder and Executive Chairman of BDSA. “To take advantage of these opportunities, it’s important for producers of cannabis products, manufacturers considering development of cannabis products and retailers work with the most accurate and timely data to generate the most effective market strategies.”

Regarding COVID-19, the report highlights the tremendously disparate impact the pandemic has had on cannabis sales across the U.S. While states like Colorado, Illinois, Michigan, New Mexico, Oklahoma, and Oregon, saw significant increases, Nevada witnessed a massive drop.

Accelerated adoption of cannabis products by consumers has outweighed downward pricing pressures resulting from legalization and greater consumer acceptance of cannabis products, the report concludes.

Lead image by Ilona Szentivanyi. Copyright: Benzinga.



Cannabis News Markets

Related Articles

The Week In Cannabis: MORE Act Passes, UN Vote, Joe Rogan, Will.i.am, Aphria, Canopy And Earnings

It was a historic week for cannabis. read more

Sweet Dirt Expands In Maine, Opens Adult-Use Cannabis Store In Waterville

Cannabis company Sweet Dirt is poised to launch the first out of four adult use cannabis retail locations in Central and Southern Maine. The new store — located at 475 Kennedy Memorial Drive in Waterville, Maine — will open on Wednesday, Dec. 9. The ribbon-cutting ceremony is scheduled for Monday, Dec. 7. read more

No One Size Fits All: Cannabis Experts Discuss Merits Of Capped, Uncapped Markets

Cannabis regulations vary by state, with license caps serving as one of the more glaring differences. Depending where you are, caps may or may not be imposed on various points in the supply chain, which can include limits on ownership, production, delivery or retail. read more

MedC Biopharma Corporation Launches $3M Private Placement Offering

Skin oncology medication manufacturer MedC Biopharma Corp. is launching its $3 million private placement offering. The company known for various products with cannabinoid and other natural ingredients launched the private placement via the DealSquare platform, which is supported by NEO and DealMaker technology. read more

Aleafia Health Presents Debuts High Potency CBD 50 Cannabis Oil

Aleafia Health Inc. (TSX: AH) (OTCQX: ALEAF) is launching high potency CBD 50 oils. The cannabis company crafted SymblTM High CBD 50 and EmblemTM CBD 50 to meet the needs of both adult-use consumers and medical patients, respectively. read more