Worldwide authorized hashish trade income is forecast to develop one other 38% to $20.four billion in 2020, and gross sales are forecast to succeed in $46.eight billion in 2025, rising at a 21.2% CAGR 2019-2025.
In 2019, U.S. authorized hashish spending elevated 36.5% to $12.four billion. The report addresses a number of key options of the U.S. market that can assist a compound annual development fee (CAGR) of 18.2% to $33.9 billion in 2025.
- Emerging Adult-Use Markets (these launched between Jan. 1, 2017 and Jan. 1, 2020) have been the most important element of the market at $5.1 billion in 2019. Most are faring significantly better than the most important U.S. market of California: Massachusetts complete income grew 170% in its first full 12 months of adult-use gross sales whereas California struggled to develop gross sales 18% in 2019 following the launch of adult-use in January 2018.
- Even Mature Adult-Use Markets (launched earlier than 2017) can present information indicators of life: Colorado hashish income jumped 13% to $1.7 billion in 2019 in comparison with simply 3% development in 2018.
- Emerging Medical Markets (launched within the final three years) additionally posted giant positive factors in 2019: Pennsylvania income hit $420 million in its second 12 months of gross sales, and Oklahoma gross sales elevated to $365 million.
- Even Mature Medical Markets (launched earlier than 2017) can present explosive development: Hawaii’s gross sales have been up 90% and Puerto Rico’s 100% in 2019.
- Looking forward, 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 so as to add $eight billion in gross sales between 2019 and 2025, led by Florida, New York and New Jersey.