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Legal pot sales to surpass US$50B in 2025: Report
Legal cannabis sales are poised to surpass the US$50 billion mark in 2025, according to a new report from industry consultancy New Frontier Data. The bulk of those legal sales will come from the adult-use market, with the near majority of that being accounted for in North America, and should be about double medical sales by 2025, according to New Frontier Data. The consultancy estimates that there are more than 268 million marijuana consumers globally, a significant base of users who could help fuel further social acceptance and normalization of cannabis use.
 

Outside of North America — which has the highest rates of social acceptance for cannabis use and the most advanced consumer markets — will remain a smaller market until countries move forward with their own legalization efforts. Europe is poised to lead with just US$206 million in legal cannabis sales in 2020. However, legal sales will be a fraction of the US$391.3 billion in cannabis sales estimated to come from the illicit market, a figure that should provide ample ammunition for cannabis activists looking to convince policymakers to legalize the drug. Interestingly, the price of a gram of cannabis is viewed to be the highest in the United Arab Emirates at $40, a country that has jailed dozens of expatriates who have been found to have trace amounts of THC in their system.