Name: Global Cannabis Market To Hit $47 Billion By 2025
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Global Cannabis Market To Hit $47 Billion By 2025

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, /PRNewswire/ --&nbsp;BDSA, the leading provider of cannabis industry market research, together with its partner Arcview Market Research, today announced that 2019 legal cannabis sales grew by 46% to , a significant increase from the 16% growth of 2018 and the industry's highest annual rate of growth to-date.Growth in the adult-use cannabis markets of , and were the largest contributors to global sales growth in 2019, supplemented by the expanding medical markets of and ."By relaxing product restrictions and adopting more of a free-market approach to licensing, states like are realizing the potential of medical cannabis sales," said , Co-Founder and CEO at BDSA. "In addition, light regulation and low tax rates in states like enable citizen access, greater performance over the illicit markets and a healthy tax revenue stream for the state."U.S. sales grew 37% year-over-year to reach in 2019, compared to 2018 U.S. sales of . reported solid 18% sales growth in 2019, compared to weak prior year sales comparisons that included the first months of adult-use sales that began .In collaboration with Arcview Market Research, BDSA also announced its initial forecast for 2025 global cannabis sales of , representing a compound annual growth rate (CAGR) of 21% from 2019. U.S. legal cannabis sales are projected to represent 72% of total global sales by 2025, down from 84% in 2019. BDSA projects that U.S. legal cannabis sales will approach by 2025, increasing at an 18% CAGR."The long-term sales growth outlook for the global legal cannabis markets remains exceptional with sustained average revenue growth of 21% projected through 2025," said Bingham. "The cannabis industry may soon reach a watershed moment when U.S. states, faced with a looming global recession, consider cannabis legalization as a new and potentially lucrative source of tax revenues." &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other key updates to the global cannabis forecast include:Note:&nbsp;The long-term sales growth outlook in the forthcoming publication, The State of the Legal Cannabis Markets 8th Edition, is unchanged in the context of the COVID-19 pandemic. Updates to these global forecasts are published semi-annually. The mid-year 2020 update to the 8th Edition, to be published in August, will feature first-half 2020 retail data, improved category-level forecasts and updated forecasts for 2020 and beyond.About BDSA:Headquartered in , BDSA helps businesses improve revenues, reduce innovation risk, and prioritize market expansion. The company provides a holistic understanding of the cannabis market by generating insights from point-of-sale data, consumer research, and market-wide industry projections. To learn more please visit .About Arcview Market Research:Since 2011, Arcview Market Research has published over 20 reports analyzing and forecasting the rapidly evolving cannabis space. Arcview's flagship annual report, The State of Legal Cannabis Markets has become the industry standard for market analysis and data in the sector. In 2017, Arcview Market Research partnered with BDS Analytics to add more robust point-of-sale data and consumer insights to its offerings. Arcview Market Research is a project of The Arcview Group. The Arcview Investor Network includes more than 600 accredited investors who have put more than behind 200 companies.Media Contact: North 6th Agency 212-334-9753 ext.142SOURCE BDS Analytics

, /PRNewswire/ --&nbsp;BDSA, the leading provider of cannabis industry market research, together with its partner Arcview Market Research, today announced that 2019 legal cannabis sales grew by 46% to , a significant increase from the 16% growth of 2018 and the industry's highest annual rate of growth to-date.Growth in the adult-use cannabis markets of , and were the largest contributors to global sales growth in 2019, supplemented by the expanding medical markets of and ."By relaxing product restrictions and adopting more of a free-market approach to licensing, states like are realizing...

Global Cannabis Market To Hit $47 Billion By 2025

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