CAIA Blog: What Is Becoming Manifest About Cannabis? - October 4, 2020
October 2020 - Cannabis
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Consumers in the United States are expected to purchase US$10 billion in state-legal cannabis by the end of this year. This makes it a new emerging growth market at a time when so many other markets are contracting or failing altogether under the weight of the pandemic and other economic issues. As the lawful realm matures and both the quality and the range of its products have improved, consumers who previously had satisfied their demand in the black market have been moving into the lawful market. Meanwhile, people who previously had been deterred either by its illegality or (even where legal) by the stigma of the long “war on drugs” have been giving it a try. For both of those reasons, demand is expected to continue to grow more quickly than new supplies can come on line, so revenues will likely continue to pass round-number milestones, in both the US and Canada. Morningstar projects that the US number will reach $80 billion by 2030.
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