This report offers the first extensive analysis on the global cannabis market, assessing several diverging regional aspects including demand, usage rates, pricing, patient reach and even ongoing cannabis cannibalization of alcohol.
Some key takeaways include
With more than 263 million estimated cannabis consumers in the world, the value of the existing worldwide demand for cannabis is an estimated $344.4 billion USD.
There are an estimated 1.2 billion people worldwide suffering from medical conditions for which cannabis has shown therapeutic value. Adoption of medical cannabis treatment by even a small proportion of that population would create a massive market.
Canada, the country with the world's largest federally legal adult-use cannabis market, has been the frontrunner in cannabis trade, exporting nearly 1,500 kilograms of dried cannabis in 2018 (3x the amount exported in 2017).
Regions such as Latin America, and possibly Africa, are poised to potentially compete in the export market with low production costs and optimal climate. Asia, while the slowest region to adopt legalization, also represents a wealth of opportunity in the forms of low-cost labor and a long history of hemp production.
With younger adults supporting legalization at far higher rates than older adults, the expansion of legalization and normalization of social attitudes toward cannabis will be a durable generation trend.