When Washington and Colorado became the first states to legalize recreational marijuana in 2012, many analysts pondered what potential this new consumer market would have. Based on findings from the February 2022 Market Forecast from BDSA, Louisville, Colo., it’s safe to say that cannabis is a market in high demand.
For 2021, total legal U.S. cannabis sales were estimated to be $24 billion, with $10 billion from the medical channel and the remaining $14 billion coming from the adult-use channel, explains Jessica Lukas, chief commercial officer with BSDA, citing its February report.