Enterprise analysis agency BDSA has issued new projections for international hashish gross sales within the subsequent few years.
In the meantime, a brand new strategic partnership will see one of many greatest hashish manufacturers make its method over to the European market.
Preserve studying to search out out extra hashish highlights from the previous 5 days.
New information paints clear image of worldwide hashish gross sales
BDSA’s new information reveals a constructive outlook for long-term hashish gross sales development. After coming in at US$30 billion in 2021, international gross sales are anticipated to hit US$57 billion by 2026, growing at a compound annual development fee of 13 p.c.
So far as 2022 goes, within the US, authorized hashish gross sales are anticipated to usher in US$27 billion. BDSA predicts that the US market will account for 75 p.c of whole international hashish gross sales by 2026.
Roy Bingham, CEO of BDSA, stated the market is now previous the “hockey stick” pattern of gross sales development.
“Nonetheless, our up to date forecast predicts that regular positive factors in creating US markets will proceed to drive single-digit annual development in whole US authorized gross sales in 2022, with continued development prospects out to 2026,” he stated.
The agency’s information exhibits that gross sales numbers have plateaued in a few of the extra mature state markets, like California and Colorado.
However whereas these states have seen dwindling gross sales, different states opening their doorways to hashish are anticipated to usher in some severe numbers. Illinois alone is seen producing US$2 billion in 2022, in response to the info.
When it comes to competitors from different nations, BDSA believes Germany and Mexico may throw off America’s dominance in hashish gross sales.
Most recognizable hashish model expands to Europe
Cookies confirmed it is going to make its solution to Portugal by means of a new licensing settlement with Akanda (NASDAQ:AKAN).
“The companions we selected in Portugal have one of the crucial superior amenities I’ve seen and shall be producing a few of the greatest hashish on the planet,” Cookies CEO Gilbert Milam, generally known as Berner, stated.
Cookies merchandise shall be produced in Portugal by Akanda’s acquisition asset Holigen.
Akanda CEO Tej Virk praised the settlement and credited the model recognition introduced forth by Cookies.
“Cookies premium genetics are a vital pillar to have in our portfolio as these markets start to open up,” Virk stated, referring to the present wave of legalization efforts all through Europe, however notably in Germany.
Hashish firm information
- Excessive Tide (NASDAQ:HITI,TSXV:HITI)reported monetary outcomes for its third fiscal quarter, indicating income of C$95.4 million, an 18 p.c uptick in comparison with the earlier quarter. Nevertheless, the agency reported a internet lack of C$2.7 million.
- Progressive Industrial Properties (NYSE:IIPR)declared its Q3 dividend for shareholders. The agency shall be granting a US$1.80 per share dividend.
- Avicanna (TSX:AVCN,OTCQX:AVCNF)expanded its analysis relationship with the College of Toronto for the investigation of cannabinoid-based merchandise within the discipline of epilepsy. “The cannabinoids, alone and together, are a few of the most promising antiseizure medication that I’ve seen in a few years of analysis,” stated Dr. Mac Burnham, the college’s lead for hashish analysis.
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Securities Disclosure: I, Bryan Mc Govern, maintain no direct funding curiosity in any firm talked about on this article.
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