{"id":54118,"date":"2021-09-27T15:58:50","date_gmt":"2021-09-27T15:58:50","guid":{"rendered":"https:\/\/merryjane.com\/legal-cannabis-sales-around-the-globe-are-estimated-to-reach-dollar31-billion-this-year\/"},"modified":"2021-09-27T15:58:50","modified_gmt":"2021-09-27T15:58:50","slug":"legal-cannabis-sales-around-the-globe-are-estimated-to-reach-dollar31-billion-this-year","status":"publish","type":"post","link":"https:\/\/merryjane.com\/news\/legal-cannabis-sales-around-the-globe-are-estimated-to-reach-dollar31-billion-this-year\/","title":{"rendered":"Legal Cannabis Sales Around the Globe Are Estimated to Reach $31 Billion This Year"},"content":{"rendered":"

Image <\/em>via<\/em><\/a><\/p>\n

Five years from now, people all around the world will be buying $5 billion worth of legal weed every single month, according to a new market forecast<\/u><\/a> by Colorado-based cannabis analytics firm BDSA.<\/p>\n

By the end of 2021, BDSA predicts that the global cannabis industry will have sold $30.6 billion worth of legal pot, a 41 percent increase over 2020’s sales total. The agency further predicts that sales will grow at a compound annual growth rate (CAGR) of more than 15 percent, eventually exceeding $62.1 billion in annual sales by 2026. <\/p>\n

The vast majority of these sales are coming from the small but growing number of US states that have wisely chosen to legalize adult-use cannabis retail sales. Last year, legal-weed US states sold an estimated $18 billion<\/u><\/a> worth of weed, an impressive 67 percent increase over 2019’s sales. This year, BDSA predicts<\/u><\/a> that the US weed industry will grow by another 38 percent in 2021, surpassing $24 billion by year’s end.<\/p>\n