Based on the research of BDS Analytics and Arcview Market Research, legalizing the industry of cannabis will mean more progress all over the world in the next 10 years. In fact, if people spend worldwide on legal cannabis, the grow can reach USD 57 billion by the year 2027. Did you know that the recreational use will cover up to 67% of the market spending, while the medical cannabis will be 33%.
To tell us more about this goodness both with its users and the economy, Thomas Pellechia talks about Cannabis and its potential growth!
The worldwide adult recreational cannabis market remains hampered by the United Nations and its 1961 Single Convention on Narcotic Drugs. The Arcview and BDS report believes nothing will be done to change the U.N. attitude until U.S. federal laws legalize marijuana — something Arcview’s CEO, Troy Dayton, believes will happen after the 2020 presidential election.
Still, the main difference between the U.S. and European cannabis markets is that in the U.S., recreational use will dominate sales. With a budget of $1.3 trillion in health care spending, European government-subsidized health care systems will bring the medical cannabis market to dominate Europe and become the largest medical marijuana market in the world. Read here…
Cannabis is beneficial especially when use responsibly. If the world will legalize the selling and use of marijuana, it can help not only the people, but as well as the economy.