The worldwide legal cannabis industry posted its biggest year of growth in 2019, according to data firm BDSA.
The Arcview Market Research/BDSA forecast model shows worldwide spending grew 46.1% to $14.8 billion in 2019 over the course of a six-year period from 2013 to 2019.
During that time, legal spending grew at a 34.3% compound annual growth rate (CAGR).
Worldwide legal cannabis industry revenue is forecast to grow another 38% to $20.4 billion in 2020, and sales are forecast to reach $46.8 billion in 2025, growing at a 21.2% CAGR 2019-2025.
The U.S. Market
In 2019, U.S. legal cannabis spending increased 36.5% to $12.4 billion.
The report also addresses several key features of the U.S. market that will support a compound annual growth rate (CAGR) of 18.2% to $33.9 billion in 2025.
