A new report shows global legal cannabis spending grew to $36 billion in 2023, and more importantly, that languishing sales in longer-legal states may soon start to swing back up – two big, encouraging signs for insuring cannabis specialists.
BDSA, a data provider for the cannabis industry, said this week that sales grew last year, while sales are forecast sales to continue to grow at a compound annual growth rate of 10% from 2023 to 2028, yielding a $58 billion market by 2028.
The growth of legal cannabis sales is largely being driven by U.S. markets, fueled by the adult-use channel, according to BDS