One thing is certain: The numbers are telling a very compelling story for following and perhaps investing in marijuana for years to come
Researchers and financial analysts are forecasting unprecedented growth both in the United States and global markets; we’ve moved a long way from “reefer madness,” to legal dispensaries.
Many pundits and skeptics are asking how many more financial ceilings can marijuana break. The truth is, medical marijuana and CBD are forecasted to rise even more in the next ten years. How much more? Here are five remarkable numbers we found on marijuana’s staggering growth:
A May 2019 press release from Grand View Research produced astounding numbers on where the global legal marijuana market is headed. Slated to reach $66.3 billion by the end of 2025, researchers also notated a compounded annual growth rate (CAGR) of 23.9%. Factors of acceleration included recent legalization, medical marijuana use and recreational applications. Other studies cite similar numbers, capturing the attention of investors and financial analysts. With South Africa and New Zealand considering legalization, strong numbers are expected in Australia, Germany, Columbia, Poland, Israel, and Uruguay.
Allied Market Research cited the U.S. Topical Pain Relief Market will grow to $3.73 billion by 2025, registering a CAGR of 6.0% from 2018 to 2025. Driven by an, “increase in prevalence of arthritis and other bone-related conditions,” researchers found that adoption of topical pain products saw a surge with geriatric populations and sports players under a caveat: They don’t stink. Researchers noted that strong odors, or unpleasant smells could hinder market growth.
Known to aid in sleep, marijuana is expected to have a hand in the Global Sleep Aids Market, according to Allied Market Research. Already valued over $50 million, by 2023, the market is estimated to grow to almost $79.8 million with a CAGR of 7.0%.
Arcview Market Research published a, “2019 Update to the State of Legal Marijuana Markets,” which stated that in 2019, global marijuana sales were expected to grow 38% to $16.9 billion with a CAGR of 26.7% between 2017 and 2022.
According to The Street, Cowen’s cannabis analyst believes by 2030, the U.S. market alone will be worth $80 billion. In fact, research gave “outperform” ratings for all three of the publicly-traded cannabis stocks that it covers: Tilray Inc. (TLRY) – Get Report , Canopy Growth Corp. (CGC) – Get Report and KushCo Holdings Inc. (KSHB). One belief for the high growth is past users flocking back to cannabis, from partaking earlier in their youth.
One thing is certain: The numbers are telling a very compelling story for following and perhaps investing in marijuana for years to come.
Written by Kate-Madonna Hindes, The Fresh Toast