BDSA reports global cannabis sales will grow 10% in 2022
US cannabis sales expected to reach $42 billion in 2026
BDSA, Louisville, Colo., 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%. 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 United States will reach $27 billion by the end of 2022, a jump of 7% over 2021 sales of $25 billion.