Category: Cannabis

Legal cannabis business worldwide is expected to reach about $50 billion by 2025 at a compound annual growth rate (CAGR) of 20% from 2020 and hit $57 billion by 2027, while cannabis market in the United States and Canada is estimated to be about $46.5 billion and other $10.5 billion would go to other markets.

Latin America has a prospective market of over 35 million adult use customers and 4 million patients.  The size of the Latin America cannabis market  is projected to reach over $500 million by 2025 with increasing production of cannabis cultivation according to the second edition of the Latin America and Caribbean Cannabis Report – produced by London-based advisory group Prohibition Partners.

While there are 37 million people in Canada and 327 million in the United States, the European Union is home to about 743 million. In the seventh edition of the European Cannabis Report, Europe’s cannabis market is projected to grow with a CAGR of 60% to reach €2.3 billion by 2026.

Based on analyses of Australia, New Zealand and multiple independent island nations in the region, the medical cannabis market is estimated to be worth US$2.5 billion by 2028, assuming that by 2023, Australia and New Zealand have legalized medical cannabis and regulated recreational use.

In the African Cannabis Report, Africa’s cannabis market is estimated to be worth up to $7.1b.