First-of-its-kind market modeling reveals development projections for 92% of nations with authorized high-THC hashish gross sales
Washington, September 15, 2021 — New Frontier Data (https://newfrontierdata.com), the premier knowledge, analytics and know-how agency specializing within the hashish business worldwide, in partnership with TSRGrow, FTI Consulting and SōRSE releases its newest report, The Global Cannabis Report: Growth & Trends Through 2025, a first-of-its-kind evaluation of the worldwide marketplace for high-THC hashish and the drivers, tendencies and alternatives represented by the business’s development worldwide.
New Frontier Data
For the primary time, New Frontier Data constructed customized predictive fashions for 23 regulated medical hashish markets and 6 adult-use markets, spanning 24 nations, incorporating distinctive regulatory and client knowledge from every nation to provide refined 5-year forecasts for home authorized high-THC gross sales to sufferers and adults. The report additionally supplies an evaluation of complete annual international hashish demand that’s primarily based on utilization charge, pricing, and client spending knowledge sourced from each authorized and illicit markets throughout all 217 nations thought-about within the evaluation.
“The findings supported by this first-of-its-kind report are aligned with the emergence of regions as centers of excellence within the expanding global cannabis economy,” famous Giadha A. DeCarcer, Founder and Executive Chair of New Frontier Data. “Our granular approach, accounting for the unique forces at work in each country, region and market, sets us apart from other findings that rely on generalized high-level assumptions and result in misinformed and rudimentary projections.”
Key Report Findings:
- Global gross sales of high-THC hashish by way of authorized regulated sources totaled $23.7B in 2020, with the U.S. alone accounting for $20.3B.
- Building on increasing authorized entry and robust client demand, gross sales in presently authorized markets are forecast to exceed $50B by 2025.
- Globally, complete client spending on authorized and illicit high-THC hashish is projected to develop from $415B in 2020 to $496B by 2025 (a CAGR of three.6%), pushed by enlargement of authorized nation markets and rising social acceptance of the plant’s therapeutic worth.
Key Trends Shaping the Global Cannabis Economy:
- A rising physique of scientific analysis is validating the therapeutic purposes of hashish, serving to drive wider adoption amongst healthcare practitioners.
- Product innovation is bettering the comfort, discretion, high quality and consistency of authorized market merchandise, making a myriad of latest methods for shoppers to combine hashish into their life.
- “Canna-curious” shoppers who haven’t but tried hashish may have a considerable affect on market development as social acceptance widens.
- 29% of leisure vacationers specific curiosity in consuming hashish whereas on trip, and as availability expands, new alternatives to capitalize on “canna-tourism” will emerge as a rising sub-vertical.
- With shoppers’ tastes and preferences evolving alongside product innovation, the tempo to achieve a mature product panorama in newly legalized markets will speed up.
Download a complimentary copy of The Global Cannabis Report: Growth & Trends Through 2025 right here: http://info.newfrontierdata.com/global-report-2021
About New Frontier Data:
New Frontier Data is the premier knowledge, analytics and know-how agency specializing within the international hashish business, delivering options that allow buyers, operators, advertisers, manufacturers, researchers and coverage makers to evaluate, perceive, have interaction and transact with the hashish business and its shoppers.
Our mission is to tell coverage and business exercise for the worldwide authorized hashish business. We preserve a impartial place on the deserves of hashish legalization by way of complete and clear knowledge evaluation and projections that form business tendencies, dynamics, demand and alternative drivers. Founded in 2014, New Frontier Data is headquartered in Washington, D.C. with a presence in Europe, Latin America and Africa. For extra details about New Frontier Data, please go to us at www.NewFrontierData.com.
Susan Clayton Hammann
Marketing & Communications Director
New Frontier Data
+1 844-420-3882 ext. 3