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Global cannabis sales for 2020 will reach $19.7 billion, an increase of 38 percent over 2019 sales of $14.8 billion — even reflecting the impact of the COVID-19 pandemic — according to updated market forecasts published by BDSA (formerly BDS Analytics).
Jessica Lukas, senior VP of commercial development, BDSA, and Carl Edstrom, senior VP and principal, Survey Solutions, IRI, presented research on sales of cannabis products, consumer demographics, consumption occasions and the impact of COVID-19 during Cannabis Products Exchange, held virtually July 30-31.
In the wake of progressively expanding legislation opening legal cannabis markets across the U.S., we've discovered that today's cannabis consumer comes from all walks of life, and product branding can take myriad viable forms.
New Frontier Data, in partnership with payment innovator Square, has released the first volume of its newest CBD series, “U.S. CBD Consumer Report: Archetypes and Preferences.”
The report delivers new and unique insights on cannabis consumer shopping behavior, including potential whitespace opportunities for brands, and is based on nationwide primary research conducted by the two firms.
It has been more than a year since cannabis was legalized in Canada, and while 2019 sales fell short of most expectations, 2020 is in a much better position to succeed, according to new research from Mintel.