According to BDSA, a market research firm specializing in the cannabis industry, global cannabis sales exceeded $21 billion in 2020. Based in Boulder, Colorado in the United States, BDSA made this announcement on March 5, 2021 in a blog post highlighting statistics from a market forecast.

The post noted, “Legal cannabis sales in Canada totaled an estimated $2.6 billion in 2020 and are forecast to grow to nearly $6.4 billion in 2026, a CAGR of 16%… During the year, BDSA Retail Sales Tracking data in Alberta and British Columbia showed rapid growth in shares of new Cannabis 2.0 product categories.”

The market research company also made predictions for the market into 2026. “Global cannabis sales reached nearly $21.3 billion in 2020, an increase of 48% over 2019 sales of $14.4 billion. BDSA forecasts global cannabis sales will grow from $21.3 billion in 2020 to $55.9 billion in 2026, a compound annual growth rate (CAGR) of more than 17%. This growth is expected to be steady, roughly $6 billion annually.”