Fueled by strong consumer demand, annual legal (medical and adult-use) sales in cannabis are projected to grow at a compound annual growth rate (CAGR) of 21 percent, to reach more than $41 billion by 2025 (from $13.2 billion in 2019), according to New Frontier in its new report, Cannabis in America for 2021 & Beyond: A New Normal in Consumption and Demand. Monthly consumer spending increased by an average of $149 between March and October in 14 legal markets analyzed.
“History is happening before our eyes as the events of 2020 are fundamentally redefining the U.S. cannabis market and will continue to do so for years to come,” said Giadha DeCarcer, founder and CEO of New Frontier Data. “The pace and scale of growth the industry is experiencing is a compelling proof point that cannabis is evolving into a mainstream consumer category.”
“In 2021, we will likely see the legal cannabis market mature even further as it continues to cannibalize the much
