Posted 3/7/2024, 2:25:02 PM
U.S. Drives $58 Billion Global Cannabis Boom Through 2028, Led by New York and Maturing Markets
- Global legal cannabis market forecast to reach $58 billion in sales by 2028, with over 75% from U.S. adult-use sales
- U.S. cannabis sales expected to grow to $46 billion in 2028, fueled by new adult-use markets like NY, NJ, CT
- Mature markets like CA to return to growth after recent struggles with price drops and illicit competition
- Emerging markets FL and PA likely to launch adult-use sales in 2025 and drive further growth
- International cannabis sales outside US and Canada to reach $7 billion by 2028, growing at 24% compound annual rate