The legal international cannabis market is expected to grow more than 1000 percent within the next 10 years, reaching $140 billion by 2027. These figures are from a new analysis by Europe-based investment bank Bryan, Garnier & Co.
According to Bryan Garnier’s in-depth report, cannabis legalization is creating its momentum, despite there being already a sizeable existing black market sharing the overall cannabis space.
Bryan, Garnier & Co.: The legal international cannabis market is expected to grow more than 1000 percent within the next 10 years, reaching $140 billion by 2027.
This particular report, however, highlighted the economic potential of weed-infused beverages like beet and wine. It noted that global alcohol companies are taking steps to mitigate cannabis market share in rapidly growing medical and recreational cannabis markets around the world.
And along with its projections, Bryan Garnier recommended three Canadian stocks as good investment opportunities: Aurora Cannabis, Aphria, and Canopy Growth.
Brightfield Group: The international legal cannabis market will reach more than $31 billion by 2021.
Different projections by different companies
It can be recalled that Grand View Research, Inc., released a report one year ago stating that the global cannabis market is projected to reach a value of $55.8 billion by 2025.
Meanwhile, a study by cannabis market research firm the Brightfield Group, published late last year, showed that the international legal cannabis market will reach more than $31 billion by 2021.
Technavio: Global cannabis market will grow at a CAGR (compound annual growth rate) of around 37 percent between 2016 and 2020.
Yet another international cannabis report, which was released in October 2017, stated that Europe could become the largest legal cannabis market in the world over the next five years. The European Cannabis Report by London’s advisory group Prohibition Partners suggested that the overall cannabis market will reach $66.8 billion, with the potential medical cannabis market hitting $42.8 billion and the potential recreational market value hitting $24 billion.
Technavio market research analysts also earlier predicted that the global cannabis market will grow at a CAGR (compound annual growth rate) of around 37 percent between 2016 and 2020.
Different firms may come up with different projected numbers over different periods, but one thing is very clear: the cannabis market is going on an upward trend.
Also, we can expect to see different projected market values pop out every now and then as new legislation and new legalization moves arise in various countries and states, some of which may even come as a surprise to the experts.
There’s no denying it: the cannabis industry is on the rise
All these projections attribute the growth of the cannabis market to the rapid adoption of both medical and recreational cannabis by individual consumers. More and more countries and more and more states in the U.S. are legalizing the sale and consumption of cannabis for medical purposes, and more are also legalizing the substance for recreational uses due to its ability to generate high taxes from the market.
Grand View Research, Inc.: The global cannabis market is projected to reach a value of $55.8 billion by 2025.
Moreover, the global legal cannabis market is very dynamic and diverse. It comprises several domestic and international players, including cultivators, suppliers, retailers, importers, exporters, and venture capital firms.
The cannabis market, like all other markets and all other industries, is susceptible to certain factors. In this case, it is financial and legal threats, which lead to the inorganic growth of market vendors.
To ensure a continuous supply of cannabis within legalized states and legalized countries, various retailers, investors, and vendors enter into partnership agreements with cannabis producers and manufacturers. And these parties do so while making sure they are in compliance with government regulations in order to avoid any legal implication.