U.S. market research firm ups projections for Colorado, Illinois and Michigan and down for Nevada.
BDSA (formerly BDS Analytics) predicts global cannabis sales will grow 38% to $19.7 billion in 2020 and will reach $47.2 billion by 2025, a compound annual growth rate of 22%.
Year-to-date sales have swung widely as a result of COVID-19. As a result, BDSA adjusted upward sales forecasts for Colorado, Illinois and Michigan among others, while sales in Nevada declined sharply.
Downward pricing pressure is offset by the rapid adoption of cannabis products by new consumers. BDSA is a Boulder, CO. market research firm specializing in "the evolving cannabinoids market."
What does the future of cannabis processing look like for food and beverage manufacturers? From legalities to functionalities to manufacturing considerations, we hit on issues important to the manufacture of products containing both CBD and THC. Download the E-Handbook, Developing Cannabis Products for Food and Beverage Processors, to learn more
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