The next decade could have investors seeing green — and I’m not just talking about money.
Quietly, the North American cannabis industry is growing into a giant. According to a forecast from New Frontier Data, U.S. weed sales are expected to grow by 21% annually between 2019 and 2025. This growth rate works out to a doubling in total sales every 3.4 years, and should result in $41.5 billion in annual sales by mid-decade.
Meanwhile, the Canadian pot industry is finally maturing. After more than two years, supply chain issues are abating as key provinces open new dispensaries. Cannabis analytics company BDSA expects Canadian marijuana sales to jump from $2.6 billion in 2020 to $6.4 billion by 2026.