Cannabis research firm New Frontier Data has released a new report in which it projects that the value of the total cannabis industry will reach US$51 billion by the year 2025.
Also this week, a few cannabis companies announced new international ventures. This side of the space is full of potential, but is relatively new compared to markets like the US and Canada.
Keep reading to find out more cannabis highlights from the past five days.
Cannabis Market Could Reach $5.5B By End Of Year
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Market data pegs cannabis value at US$51 billion by 2025
New Frontier Data’s new report, titled “The Global Cannabis Report: Growth & Trends Through 2025,” gives consumers and stakeholders a wide look into the firm’s revamped expectations for the industry.
“Our granular approach, accounting for the unique forces at work in each country, region and market, sets us apart from other findings that rely on generalized high-level assumptions and result in misinformed and rudimentary projections,” Giadha A. DeCarcer, founder and executive chair of New Frontier Data, said about the research company’s approach.
The team’s key findings include the expectation that spending on adult-use cannabis will grow from US$415 billion in 2020 to US$496 billion by 2025, a compound annual growth rate of 3 percent.
The study also points to the potential of “canna-curious” consumers, who could represent a new wave of growth for the...
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