Hashish trade analysts at BDSA counsel that world hashish gross sales this yr will attain greater than $35 billion, representing a 22% enhance over the $29 billion in gross sales final yr. The agency additionally forecasts world hashish gross sales will surpass $61 billion in 2026, a compound annual progress charge (CAGR) of greater than 16%.
“Although most authorized hashish markets noticed gross sales soften within the second half of 2021, the worldwide hashish market is anticipated to see brisk progress in 2022, pushed by robust gross sales in new and rising markets within the U.S., regular progress in Canada and worldwide markets lead by Mexico and Germany.” – Jessica Lukas, BDSA chief business officer, in a press release
In response to BDSA, authorized hashish gross sales within the U.S. will surpass $28 billion this yr, representing progress of roughly 20% over 2021’s $24 billion and BDSA forecasts U.S. gross sales to succeed in $46 billion in 2026 – a CAGR of roughly 14% from 2021. The report names California because the “largest contributor” to total U.S. hashish gross sales progress over the following 4 years, whereas anticipating New York and New Jersey – which have but to launch adult-use gross sales – Florida, which has not but legalized hashish for adults, and Michigan will spherical out the highest 5.
In response to the BDSA report, hashish gross sales in Canada, which legalized hashish for adults in 2018, reached $3.8 billion final yr and the agency estimates gross sales will climb to $4.7 billion this yr and almost $6.3 billion by 2026, a CAGR of 11% from 2021. BDSA forecasts that Ontario would “spearhead” Canada’s progress, rising over $1.3 billion by 2025, whereas British Columbia would add $420 million to whole gross sales by 2026.
Gross sales of authorized hashish merchandise, together with cannabis-derived prescribed drugs, exterior the U.S. and Canada have been estimated at $1.4 billion in spending for 2021 and are forecast to develop to $2.2 billion in 2022, in response to BDSA. Worldwide gross sales, the corporate estimates, are anticipated to succeed in $9.5 billion by 2026, a CAGR of roughly 46% from 2021. BDSA suggests that almost all of that new spending will likely be pushed by Germany and Mexico, with France and the U.Okay. additionally contributing considerably.
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