The growing number of states legalizing medical marijuana and increasing demand for cannabis in medical and recreational applications are some of the main factors that are expected to drive the growth of the cannabis market size. Even states without final tallies for all of 2020 reported record sales figures.
The North America cannabis market is expected to reach $ 65B by 2027 from $ 6B in 2019. The market is anticipated to grow at a CAGR of 29.9% from 2020 to 2027.
A snapshot of a few marijuana markets across the U.S. revealed that even states that took a hit at points during 2020 – such as Nevada, where tourism dried up for several months starting in March – either rebounded or grew steadily throughout the year.
The North America region is going to dominate the global cannabis market due to increasing legalization of cannabis for both medical and recreational purposes all over North America. Experts agreed that while 2020 might have set a new bar for industry performance, it’ll likely be an easy one to meet as the legal marijuana sector continues to grow.
Show Notes:
Cannabis Market Overview February 2021
https://www.headset.io/posts/cannabis-market-overview-february-2021
Host:
Josh Kincaid, Capital Markets Analyst & host of your cannabis business podcast.
https://www.linkedin.com/in/joshkincaid/
Episode 654 of The Talking Hedge:
Your cannabis business podcast covering cannabis products, business news, investments & events.
https://www.theTalkingHedgepodcast.com
Music Info:
Song: Dark Trap Beats Hard Rap Instrumental | Gang | 2018Artist: LuxrayBeats
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