A new research report forecasts increases over 2021 cannabis sales from 16 percent in Europe and 22 percent in Asia to 45 percent in Latin America.
The report titled “International Cannabis Refresh: The impact of shifting global regulatory environments” was published in October 2022 by the Brightfield Group.
The researchers state that growth in Europe “can largely be attributed to the commencement of adult-use sales, both in trial programs and in formal regulation…” But they also say that domestic cultivation could boost market sizes, “with many countries currently relying on imports from other nations.”
The Asia Pacific & Middle East region shows even higher forecasted increases over 2021 – as much as 22 percent. Israel has the largest market with Australia in second place.
In Latin America, cannabis sales are expected to increase by as much as 45 percent over 2021. This is attributed to the expectation that Mexico and Costa Rica will enter the marketplace by 2025.
The publishers of this report, Brightfield Group, is a research firm specializing in emerging categories including CBD, cannabis, and wellness.
For more information visit: Brightfield Group.