NEW REPORT: Worldwide Legal Cannabis Spending Hits $12.2 Billion in 2018, projected to Grow 38% to $16.9 Billion in 2019

Oakland, California, UNITED STATES

Oakland, California, Jan. 15, 2019 (GLOBE NEWSWIRE) -- Worldwide consumer spending on legal cannabis is expected to reach an estimated $12.2 billion in 2018, a significant jump from $9.5 billion in 2017, according to the “2019 Update to The State of Legal Marijuana Markets” (SOLMM) report released today from Arcview Market Research (“Arcview Group”) and BDS Analytics.

The 28% worldwide growth estimated for 2018 is slightly behind the growth rate forecast made in the original SOLMM report released in June, as Canada delayed the launch of its program from June to October and California’s expensive tax and regulatory structure hobbled legal operators in their competition with the state’s robust illicit trade. Arcview Market Research now forecasts that spending growth will accelerate in 2019, jumping 38% to $16.9 billion, and going on to reach $31.3 billion in 2022, growing at a 26.7% compound annual growth rate (CAGR) over the five-year frame from 2017.

“The entry of one of the largest alcohol and one of the largest tobacco companies into the cannabis sector as well as the Congressional passage of a Farm Bill legalizing growing hemp in the United States, were key to making 2018 a year of historical importance,” said Troy Dayton, CEO of The Arcview Group. “This year, we also saw two of the world's three largest legal medical markets – California and Canada – transition to legal regimes that allow all adult consumers to buy cannabis, while voters in the other top-3 market – Michigan – approved a ballot measure to do the same.”

“Despite the speed bumps in Canada and California, the basic story line prompting an explosion of investment in the industry in 2018 remains intact,” said Tom Adams, managing director and principal analyst at BDS Analytics. “The gradual legalization around the world of a plant which humans have been happily consuming for millennia is creating one of the largest industry-growth phenomena in history.”

Other key trends analyzed in the 2019 Update to The State of Legal Marijuana Markets include:

  • The Canadian licensed producers (“LPs”) continuing to attract huge investment from major players in other consumer products categories, including beverage giant’s Constellation Brands’ $4-billion August investment in Canopy Growth, and tobacco-market leader Altria buying a 45% stake in Cronos in December valued at $1.8 billion.
  • Political and regulatory developments that will bring wider legalization to states as politically diverse as New York and Utah, and across the United States from New Mexico to New Jersey.
  • The valuation explosion in Canada, which saw five of the country’s licensed producers reach a combined market capitalization of nearly $20 billion as 2018 came to a close.
  • A gold rush of U.S. multi-state operators going public on the Canadian Securities Exchange, with five operators reaching valuations above $100 million and a combined market cap of $5.5 billion.
  • Countries liberalizing their medical cannabis regulatory schemes, including enormous potential markets in the United Kingdom and Mexico.

The 60 page report is available free to all buyers of the $597 The State of Legal Marijuana Markets, 6th Edition, or as part of the Cannabis Intelligence Briefing subscription service from Arcview Market Research and BDS Analytics for $1,975.


About Arcview Market Research:

Since 2011, Arcview Market Research has published over 20 reports analyzing and forecasting the rapidly evolving cannabis space. Arcview’s flagship annual report, The State of Legal Marijuana Markets, has become the industry standard for market analysis and data in the sector. In 2017, Arcview Market Research partnered with BDS Analytics to add more robust point-of-sale data and consumer insights to its offerings.  Arcview Market Research is a project of The Arcview Group.  Founded in 2010, The Arcview Group is responsible for a number of groundbreaking ventures in the cannabis industry. The Arcview Investor Network includes more than 600 accredited investors who have put more than $235 million behind 200 companies. In 2015 Arcview became a partner in Canopy, the first seed-stage mentor-driven business accelerator.  Arcview is also co-founder of Cannasure Insurance Services, the leading provider of business insurance to the cannabis industry.  Forbes Magazine recently named Arcview among the top 5 financial firms in the cannabis sector.

About BDS Analytics:
Headquartered in Boulder, Colo., BDS Analytics provides businesses with comprehensive, actionable, and accurate cannabis market intelligence and consumer research. The company provides a holistic understanding of the cannabis market by producing insights from dispensary point-of-sale systems through its market-leading GreenEdgeTM platform, driving consumer research with its Cannabis Insights Group, and generating market-wide cannabis industry financial projections through its Industry Intelligence Group. To learn more about how you can utilize BDS Analytics' superior market research, please visit


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