Prohibition Partners are proud to launch The North American Cannabis Report: Third Edition in partnership with Business of Cannabis. The report takes a deep dive into the current social, economic and regulatory trends across the US and Canada. In addition, Prohibition Partners are publishing market sizing data and an exclusive 60-page report on emerging LATAM markets.
In 2021, the North American cannabis industry continued to grow and showed more promise than ever, with New York, New Jersey, Virginia, New Mexico, Montana and Connecticut all enacting, amending or passing adult-use cannabis legalisation.
There has also been a wealth of optimism for full federal legalisation in the US after president Biden was elected and the Democrats took control of the senate. Despite this, rather disappointingly, there has been little movement by both House Representatives and Senators to legalise cannabis at a federal level.
The stock market has mirrored the slow-moving nature of federal reform. However, regional efforts are showing great promise. Revenues are rapidly growing, margins are expanding and markets are maturing, all signalling a bright future for the burgeoning North American cannabis industry.
“Prohibition Partners estimates that adult-use cannabis sales in the United States are set to reach US$18.5 billion in 2022, and grow by 218% to US$58.8 billion by 2026. In Canada the market is expected to grow from US$4 billion in 2021, to US$7.6 billion in 2026.”
Latin America is also experiencing widespread liberal use of the cannabis plant in the medical, adult-use and CBD market segments. The continent is continuing with a long tradition of pioneering sensible cannabis policies both in the medical and adult-use realms.
Latin America is central to the global liberalisation of cannabinoids, being home to a rapidly-growing CBD and medical cannabis market, as well as the oldest adult-use market, in Uruguay.
Alongside the North American: 3rd Edition report there are two exclusive additions available to purchase that provide unrivalled and invaluable insight into the North American and LATAM markets.
(From BUSINESS OF CANNABIS, July 28, 2022 )