Global cannabis sales to reach $57 billion by 2026, says BDSA
Written by Redacción Mota Radio on 30 September, 2022
Global marijuana sales will increase to $57 billion by 2026, so forecasts cannabis data company BDSA in its latest report.
“Our updated forecast predicts that steady gains in developing U.S. markets will continue to drive single-digit annual growth in total U.S. legal sales in 2022, with continued growth prospects through 2026,” said BDSA CEO Roy Bingham.
The BDSA report also projects that in the U.S., sales of the substance will increase from $25 billion in 2021 to $42 billion in 2026, this will represent approximately 75% of global cannabis sales, High Times reviewed.
“The United States will continue to dominate global sales in the coming years, but we see potential in emerging global markets such as Germany and Mexico,” Bingham also expressed.
On the other hand, the BDSA company addresses in its report that prices in the mature cannabis market are experiencing historically low figures. In Colorado, for example, sales for recreational use continue to fall, in June 2022 reaching $127,157,358, compared to June 2021 which reached $152,719,813.
In Colorado, it is not only recreational marijuana program sales that have declined as medical cannabis sales are also down. However, newer markets, such as Illinois, continue to do well, so far they have raised the sum of $2 billion in total sales in 2022 (14% more than sales raised in 2021).