U.S. Cannabis Sales Expected to Reach $42 Billion by 2026 Cannabinoid-industry research firm BDSA releasing updated market forecast
on Sep. 13, 2022
LOUISVILLE, Colo. — Cannabis sales will grow from $25 billion in 2021 to $42 billion in 2026 in the United States, according to BDSA’s latest prediction.
The Louisville, Colo.-based cannabinoid-industry research firm expects global cannabis sales to be a $57 billion market by 2026 globally. It shared these findings in its updated cannabis market forecast, a five-year rolling global forecast by country, state, province channel and category.
Cannabis sales in the United States also grew in 2022, despite an inflationary environment and concerns about a recession that dampened consumer spending, BDSA said. By the end of the year, U.S. cannabis sales will reach $27 billion, a 7% increase from 2021, according to the firm.
Illinois is expected to bring in $2 billion in cannabis sales in 2022—up 14% from 2021 sales. And newer markets like New jersey and New York represent an expansion of legal cannabis access to about 22 million adults, BDSA said.
BDSA helps businesses improve revenues, reduce innovation risk and prioritize market expansion with accurate and actionable cannabis market intelligence, consumer research and advisory services. The company provides a holistic understanding of the cannabis market by generating insights from point-of-sale (POS) data, wholesale data, consumer research and market forecasts.