Washington, June 16, 2021 (GLOBE NEWSWIRE) – New Frontier Data (https://newfrontierdata.com), the leading data, analytics, and technology company specializing in the global cannabis industry, published in partnership with the global law firm Dentons released its most recent report, Cannabis in the US 2021 Mid-Year Market Update, which includes the latest market trends and figures following the nationwide legalization effort, as well as the latest projections for 2021 and beyond.
With 10 newly legalized markets slated to begin selling in 2021 or 2022, New Frontier Data predicts total legal cannabis sales will grow at an average annual growth rate (CAGR) of 16% to $ 43 billion by 2025. The study continues That 2020 illegal national demand and use of cannabis is estimated at over $ 65 billion.
“After nearly a decade of tracking, analyzing and modeling changes in the legal cannabis market, we continue to see and report with confidence that significant economic opportunities in the US are being made as legal market spending experiences steady double-digit year-over-year growth “Said Giadha A. DeCarcer, Founder and Chairman of the Board of New Frontier Data. “We expect the second half of 2021 to be particularly interesting as market consolidation is peaking and the large investment influx is expected to fuel market growth and expansion.”
Main findings of the report:
- By 2025, 42% of total annual U.S. cannabis demand is expected to be met by legal purchases in regulated marketplaces, up from 24% in 2020, fueled by both a continued surge in legal market spending and the conversion of existing illegal market spending to regulated marketplaces Swell.
- 141 million Americans, or 43% of the adult population, live in 18 adult-use states, making a diverse and widely distributed consumer base that retailers can segment and target.
- By 2025, 5.4 million Americans, or 2.4% of the US adults, will be enrolled in medical cannabis states.
- By May 2021, cannabis capital increases more than tripled, reaching $ 6 billion, signaling increased confidence in the predicted aggressive growth of the cannabis market.
Download a free copy of Cannabis in the US 2021 Mid-Year Market Update here: https://info.newfrontierdata.com/us-cannabis-report-2021-mid-year-update
About New Frontier data:
New Frontier Data is the leading data, analytics and technology company specializing in the global cannabis industry, delivering solutions that enable investors, operators, advertisers, brands, researchers and policy makers to evaluate the cannabis industry and its consumers. understand, interact, and transact with them.
Our mission is to educate political and commercial activities for the global legal cannabis industry. We maintain a neutral position on the benefits of cannabis legalization through comprehensive and transparent data analysis and forecasts that shape industry trends, dynamics, demand and opportunity drivers. New Frontier Data was founded in 2014 and is headquartered in Washington, DC with presence in Europe, Latin America and Africa. For more information on New Frontier Data, please visit www.NewFrontierData.com.
Dentons is the world’s largest law firm, connecting high-level talent with the challenges and opportunities of the world with 20,000 professionals, including 12,000 lawyers, in more than 200 locations in more than 80 countries. Dentons’ multidisciplinary cannabis team provides critical expertise and insight to help business owners and stakeholders seize every opportunity and overcome every challenge. Our skills and experience are unmatched, from assisting with strategic legal advice and ongoing regulatory compliance, to advising on company formation and corporate governance, to advising companies from inception to IPO. More information about Dentons can be found at www.dentons.com.
Cannabis in the US 2021 update