CHICAGO–(BUSINESS WIRE)–Recreational hashish gross sales will drive international authorized market progress by 376% over the following 5 years, outpacing medical and CBD, in accordance to international market analysis firm Euromonitor International’s new hashish database.
Recreational hashish will seize 67% of authorized gross sales globally in 2025, whereas medical hashish will account for less than 9%, declining from 23% in 2020, in accordance to Euromonitor.
“New consumption occasions and tailored value propositions will drive the industry into fast-moving consumer goods territory,” says Spiros Malandrakis, head of alcoholic drinks at Euromonitor International. “The modern cannabis consumer will not only continue to drink less alcohol and smoke less tobacco but also diversify from traditional recreational flower to other formats.”
Flower stays the dominant authorized hashish format globally however will file the most important share of gross sales decline, from 35% in 2020 to 27% in 2025, in accordance to Euromonitor’s new webinar, “The Evolving State of Global Cannabis: Market, Consumers and the Future.” Topicals, tinctures and edibles will steal market share because the three fastest-growing classes, respectively, over the following 5 years.
“Cannabis is already a nearly USD170 billion global industry, but the legal market today is only approximately USD30 billion,” says Shane MacGuill, senior head of nicotine and hashish at Euromonitor International. “As regulation progresses, the legal market is expected to capture 40% of global cannabis sales in 2025, and companies will be able to tap into a large existing user base as well as nurture the curiosity of new adult consumers.”
Euromonitor’s new hashish database gives international, regional and country-level gross sales and pricing throughout classes, together with leisure, medical, CBD and illicit, and 10 codecs, together with flower, edibles, vapor and topicals, amongst others. The database additionally encompasses a new Cannabis Survey, monitoring shopper habits and attitudes in 20 markets.
Register now for Euromonitor’s webinar, “The Evolving State of Global Cannabis: Market, Consumers and the Future,” on Tuesday, Nov. 17 at 9 a.m. CST / three p.m. GMT to get a primary have a look at the newest progress developments, market potential and shopper preferences.
About Euromonitor International
Euromonitor International is the world’s main supplier for international enterprise intelligence, market evaluation and shopper insights. From native to international and tactical to strategic, our analysis options help selections on how, the place and when to develop your online business. Find the proper report, database or customized resolution to validate priorities, redirect assumptions and uncover new alternatives. With places of work world wide, analysts in over 100 international locations, the newest information science methods and market analysis on each key development and driver, we assist you make sense of world markets.