What are industry researchers predicting for Cannabis industry growth in 2022?
While we wait for end of year updates for 2022, we wanted to remind about mid-year predictions from 2021.
Back in July of 2021, Iris Dorbian reported on Forbes.com that a top Cannabis industry researcher — Seattle-based Headset — increased its prediction for 2022 growth to reach $30 billion. The report also suggested that U.S. market growth will not be slowing down anytime in the near future.
Other key takeaways from the report include:
- *Category share in the U.S. will see little change between 2020 and 2022, with certain trends balanced out by new legal markets;
- *Flower will remain the main growth driver for the U.S. market well into 2022, when its contribution to total market sales reaches 47%;
- *In Canada, flower share drops 6.5% between 2020 and 2022 from 57.5% to 51% while all other categories remain fairly stable;
- *From 2021 to 2022, pre-roll growth contribution in Canada significantly increases from 23.4% to 29.2%.
To download a copy of the Headset report, click here.
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