BDSA: Global cannabis sales could top $60B by 2026

LOUISVILLE — BDS Analytics Inc., a local cannabis market intelligence and research company, projects that legal, global pot sales will exceed $35 billion in 2022 and could top  $61 billion in 2026, a compound annual growth rate of more than 16%.

The sales expectation for 2022 is good for a 22% growth rate compared to 2021.

“Though most legal cannabis markets saw sales soften in the second half of 2021, the global cannabis market is expected to see brisk growth in 2022, driven by strong sales in new and emerging markets in the U.S., steady growth in Canada and international markets led by Mexico and Germany,” BDSA chief commercial officer Jessica Lukas said in a prepared statement. 

In the United States, pot sales are expected to surpass $28 billion in 2022, with California continuing to be the largest domestic market. 

As larger states, especially on the coasts, continue legalizing recreational cannabis, they are expected to leapfrog Colorado, which, despite being the first to allow dispensaries to open in 2014, is much less densely populated than states such as New York, New Jersey and Florida, the projected next largest cannabis markets in 2022. 

“Emerging markets are also expected to be a major driver of sales through 2026, as the number of non-legal states is rapidly dwindling,” according to BDSA’s report. “The pace of legalization could even increase as the latest wave of medical and adult-use bills are seeing unprecedented bipartisan support at the state level.”

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