An Outlook on the Cannabis Market in the World, Europe, and the USA

Global Cannabis Market Development

The global cannabis market growth has been staggering in recent years. This is mainly due to the growing applications for medical cannabis, the rise in social acceptance, and the progressive legalization – mainly in Europe and in the Asia-Pacific region.

As legalization increases across the world, THC-dominant strains and cannabis-derived products are expected to account for the largest share of the market.

How much is the cannabis market worth?

In 2018, it was estimated that the global legal cannabis market would be worth $20.5 billion in 2020. The reality surpassed the expectations as the market was valued at $24.6 billion in 2020.

Now, it is estimated to grow at a compound annual growth rate (CAGR) of 14.3% from 2021 to 2028, reaching $90.4 billion by 2026.

European Cannabis Market Development

The European cannabis market will have the highest CAGR from 2021 to 2026, according to market predictions, and the recreational market is expected to have the biggest growth among all market segments.

How much is the cannabis market worth?

In 2019, the legal cannabis market value in Europe was worth $3,498.1 million. From 2020 to 2027, it’s expected to grow at a 29.6% CAGR to $36,997.1 million.

American Cannabis Market Development

The US was a pioneer when it comes to the medical and recreational use of cannabis. But the industry is still at an early stage and has the potential to grow immensely.

The industry will generate $85 billion in sales in 2030, according to predictions. And everything points to legalization at the federal level.

What is the US cannabis market worth?

The US cannabis market is currently worth $61 billion and is expected to exceed $100 billion by 2030 since every expectation has been topped so far.

Cannabis Market Outlook

Finally, after decades of prohibition cannabis and cannabis-derived products, like CBD, are returning to the mainstream.

You can now easily buy CBD oils and other products that are helping millions of people worldwide coping with health and wellness issues.