Global 2020 Cannabis Sales Hit $21B, Insurance Brokers Saw Premium Boost
If one thing can be said about the pandemic, it definitely was not a bad thing for cannabis, a business that many states declared to be essential as numerous other business sectors shut down to help slow the spread of COVID-19.
Global cannabis sales rose nearly 50% in 2020 to $21.3 billion, a report released on Tuesday shows.
Cannabis data and analytics firm BDSA released its 2020 cannabis sales data and forecast future.
The 2020 figure was an increase of 48% over 2019 sales of $14.4 billion.
BDSA now forecasts global cannabis sales will grow to $55.9 billion in 2026, a compound annual growth rate of more than 17%.