Despite Speed Pumps, Cannabis Market Growth Continues to Climb
The growth rate for 2018 was behind the forecast initially made by Arcview/BDS Analytics. This was due in part to the delayed launch of Canada’s market and California’s burdensome tax and regulatory structure that is impeding legal operators as they compete with the state’s robust illicit trade.
However, Tom Adams, managing director and principal analyst at BDS Analytics had this to say, “Despite the speed bumps in Canada and California, the basic story line prompting an explosion of investment in the industry in 2018 remains intact. The gradual legalization around the world of a plant which humans have been happily consuming for millennia is creating one of the largest industry-growth phenomena in history.”
Arcview Group now forecasts that spending growth will accelerate for the rest of 2019, jumping 38% to $16.9 billion, and continuing to $31.3 billion in 2022, growing at a 26.7% compound annual growth rate (CAGR) over the five-year frame from 2017.
For full details see the report HERE