Global cannabis sales will hit $ 51 billion by 2025, new limit data predict

New Frontier Data recently released a report showing how much the cannabis industry is expected to grow by the end of this decade. The comprehensive report says global cannabis sales are estimated to be at least $ 50 billion before or through 2025.

New Frontier Data is a technology-driven company that prides itself on its quality analytical reports on the cannabis industry. The independent company analyzes data from the adult cannabis industry as well as the medical cannabis industry.

The most recent report, titled Global Cannabis Report: Growth and Trends through 2025, explores the possibilities of events in both industries. The detailed document analyzed the expectations of experts in the cannabis industry in order to make broader predictions about what could happen in the global cannabis industry. The authors also considered current cannabis industry trends in the Caribbean, Asia, Africa, Latin America, North America, Europe, and even Oceania to predict future trends.

New markets around the globe

The report begins with a letter from the editor, founder and executive chair of New Frontier Data, Giadha A. Decarcer. In her letter, Giadha shows her optimism about the growth and expansion of the global cannabis industry.

She referred to the company’s first global cannabis industry report, published in two years. In that release, the company stated that cannabis legalization will be a very important tool for the socio-economic movement over the next few years. Between the publication of the report and now, around 20 countries have decriminalized all or part of cannabis, bringing the total number of countries with cannabis reforms to 70. Of these 70 nations, 10 have fully decriminalized the use of cannabis and allow both recreational and medicinal use of marijuana. Giadha wrote that every country, region and market will require different approaches to understand, quantify and qualify the expected changes in societal norms due to these new regulatory structures. As more countries legalize cannabis, new markets will develop around the world.

Details of the report

North America holds the record for the highest revenue generated from sales of high-THC marijuana products. According to the report, legal markets in North America made about $ 23 from THC-rich products in 2020 alone. This amount is about ten times higher than sales in other global regulated markets.

The United States generated $ 20.3 billion from adult sales of cannabis and medicinal cannabis. The other North American country, Canada, sold high-THC marijuana products valued at $ 2 billion. If both countries continue on this uptrend, the $ 50 billion mark could come earlier than expected.

In contrast to the high sales of THC-dominant products in North America, other countries around the world had relatively lower sales in their recreational industries.

In Europe, Germany has a fairly thriving medical cannabis industry, which is currently the largest on the continent. The country had total sales of $ 206 million for its medical cannabis program in 2020.

New Frontier Data reports that the amount was collectively generated by medical patients registered with insurance companies and those who purchase their medical devices through other means.

Cannabis legislation in Spain is similar to that of the United States. Cannabis has not been decriminalized at the federal level, but states and individual provinces have the right to authorize cannabis sales regulations. These provinces allow cannabis clubs to be formed in certain locations.

The total revenue of these clubs reached $ 431 million in 2019. Two years later, Spain has the potential to have one of the largest cannabis industries in the world. Other contenders for this title are Canada and the United States.

” The investment rate in the cannabis industry is expected to rise ”

A webinar was held on September 23rd with key players in the global cannabis industry. The event, which focused on forecasting trends and opportunities in the global cannabis industry, featured key speakers discussing the future of the global cannabis industry.

Some of the notable names that have spoken include Tim O’Neil, Mikhail Saga, Lincoln Eckhardt, and John Kagia, New Frontier Data’s chief knowledge officer. The speakers agreed that more investment needs to be made in the cannabis industry. Tim O’Neil added that the Chinese and Indian markets are currently the most for-profit opportunity for investors. Mikhail Saga insisted that countries outside of North America need to get their cannabis industry in place as soon as possible in order to have successful sales. Lincoln Eckhardt, Managing Director of FTI Consulting, had a somewhat unique attitude that New Frontier Data describes as “hoping for the best but expecting the worst.” Using the platform to discuss the steam crisis that emerged in 2020, Lincoln stated that the best course of action to deal with the crisis is to address the problem head on.

He made a comparison of the separate medical markets in Oklahoma and Alabama. He believes that stakeholders need to conduct risk assessments and validate business investments before deciding what to offer in the medical markets

Attributing the current trend to medical cannabis initiatives

New Frontier Date recognizes that the magnitude of cannabis sales on a global scale is due to the various medical cannabis reforms that are emerging around the world.

In Europe, countries are clinging to the therapeutic benefits of cannabis and giving their residents the opportunity to participate in medical cannabis programs. Latin American countries are also using the medical route and giving their citizens better access to medical cannabis. New Frontier Data predicts that the total number of medical cannabis patients could reach 6.5 million before 2025.

Bottom line

Both the recreational cannabis industry and the medical cannabis industry are doing very well. By 2025, medical cannabis sales will account for a third of the total cannabis industry, with the recreational industry taking over the remaining two thirds.

We look forward to more comprehensive coverage of the cannabis industry from New Frontier Data in the coming months.

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