BDSA: Colorado pot sales ‘stabilizing,’ could reach $1.7B by 2027

LOUISVILLE — After a period of contraction following the COVID-19 pandemic, Colorado’s cannabis market is likely to grow again — albeit very slowly — over the next few years, according to a new forecast from BDS Analytics Inc., a local cannabis market intelligence and research company.

“Despite a sales decrease in 2022, Colorado’s cannabis market is stabilizing with expected sales of $1.6 billion in 2023, followed by eventual single-digit sales growth to reach $1.7 billion by 2027,” BDSA said. 

If Colorado hits $1.7 billion in sales by 2027, that would still merely match the sales total from 2022.

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While sales are rapidly sprouting upward in markets, particularly on the East Coast, that recently approved recreational marijuana operations, “mature markets like California and Colorado continue to face stagnating or declining sales,” BDSA CEO Roy Bingham said in a prepared statement. 

BDSA expects the global cannabis market to grow each year through 2027, when worldwide sales could reach $55 billion. In the U.S. the annual growth rate could reach 11% in the coming years, creating a $43 billion legal U.S. cannabis market by 2027.