The Cannabis Industry - The Opportunity

Market Boom

The cannabis industry, while still in its infancy, is already showing tremendous potential from a business perspective.

  • The existing cannabis market across Asia-Pacific is estimated at $6.0 billion The market is expected to grow at 35% annually – New Frontier Data Oceania Report
  • Medicinal cannabis is going mainstream with more than 50 countries worldwide legalising it in some form (Thailand & South Korea are the most recent countries to adopt the use of medical cannabis)
  • In Europe alone, there are 29 countries with some form of legalized medical use
  • Legal cannabis market worldwide is expected to grow to ~$80 billion USD by 2022 with a CAGR of ~35% - MjBizDaily
  • New Zealand will hold a referendum in 2020 regarding legalising recreational use of cannabis (current polls show 60% in favour)
  • In the US, there are an estimated 120,000-150,000 people employed in the cannabis industry
  • Also, In the US, the estimated demand for cannabis is just below beer & cigarettes at ~50 billion USD when compared to other industries & goods (refer chart below)source Mjbizdaily
  • Just in California cannabis sales through licenced retail outlets was ~2.5 billion USD – source Mjbizdaily
 
Source: mjbizdaily

 

Further Reading

Cigarettes & Alcohol brands investing in cannabis - https://edition.cnn.com/2019/04/19/investing/cannabis-stocks-420/index.html

Carl’s Jr CBD Burger - http://time.com/5572427/carls-jr-cbd-burger/