Skip to content Skip to footer

The North American Cannabis Report: 3rd Edition – Key Insights

The North American Cannabis Report: 3rd Edition – Key Insights
Share this story

Prohibition Partners is proud to present The North American Cannabis Report: 3rd Edition, which projects the continent’s adult-use cannabis market to be worth US$66.4 billion by 2026. In addition to market sizing projections based on exclusive, scrupulous data collection, industry expert Q&As and analysis, this year’s report highlights the top trends in mature and emerging markets across North America. 

2021 was one of the most exciting and challenging years for the cannabis industry yet, with rapid-fire and billion-dollar mergers and acquisitions, massive progress on US state legalisation and right-sizing markets in Canada, California, Colorado, all pointing toward a bright, exciting future and a more cohesive, cross-border industry to come.

Adult-use is growing rapidly in the US

With the election of President Joe Biden, there was a widespread optimism for the federal legalisation, unfortunately there has been little movement since. Growth of adult-use sales across the US have not been halted by government inaction. Sales continued to grow in 2021, albeit at a slower pace than in 2020, in the more mature markets in the western US due to a combination of market saturation, low prices and the absence of stimulation cheques in the second year of the pandemic.

 Adult-use cannabis sales in the US are projected to grow 218% between 2022 and 2026, from US$18.5 billion to US$58.8 billion in 2026, with the fastest-growing markets emerging in Arizona, Illinois, Connecticut, New Mexico, New York, Vermont and Michigan.

Medical cannabis in Canada still declining

Canada’s own adult-use sales are predicted to grow steadily as well rom just over US$4 billion in 2021 to US$7.6 billion. However as seen in many markets where adult-use is introduced, medical sales continue to fall.

By 2026, Canada’s market is likely to decline by 11%, from US$440 million to US$379 million. The plateauing of medical cannabis sales is attributable directly to the shift of consumers from medical to adult-use.es expected to be grown in key regions such as the UK and the Netherlands in the near future.

The US medical market still has room to grow

While Canada’s medical sales are expected to plateau, the US still has plenty of room to grow. Within legal states the trend is likely to follow Canada but with new medical markets appearing state-by-state, medical sales will continue to climb.Sales are projected to grow by 41.5% between 2022 and 2026, from US $9.2 billion in 2022 to US$13.1 billion.

The recent Medical Marijuana and Cannabidiol Research Expansion Act passed through the US House of Representatives aims to make cannabis research easier, allowing for more studies to be done using FDA-approved cannabis. If it were to be passed by the Senate this increase in research may see the medical market in the US grow even faster.

LATAM continues progressive policies

In terms of economic opportunity, the most interesting ongoing development in Latin American cannabis use is the legalisation of adult-use cannabis in Mexico. The country will soon represent the largest single country for adult-use cannabis in terms of the number of users, offering countless justice, economic and public health benefits, as well as relief for the penal system.

Latin America is central to the global liberalisation of cannabinoids, being home to a rapidly-growing CBD and medical cannabis market, as well as the oldest adult-use market, in Uruguay. This mini-report is designed to bring readers up to speed with the current state of play, risks and opportunities in these nascent markets.


The North American Cannabis Report: 3rd Edition provides the latest information and analysis on the development of the nascent cannabis markets across North America. Included in the report are deep dives into all key sectors and geographic regions in the North American cannabis industry, with many data sources which have been exclusively obtained by Prohibition Partners, or else remain un-reported to date. 

Download the report and explore the additional Premium Package options here:

DOWNLOAD YOUR COPY OF THE NORTH AMERICAN CANNABIS REPORT: 3RD EDITION

Recent posts
August 10, 2022
Business of Cannabis Conference Returns to New York City on November 3
July 28, 2022
Launching Today – The North American Cannabis Report: 3rd Edition
July 5, 2022
A European Cannabis Report Update at Cannabis Europa London
June 2, 2022
Austria Sees Record Imports of Medical Cannabis in 2021

Catch up on our newest articles that you might have missed

Cannabis daily header (25)
August 10, 2022
Business of Cannabis Conference Returns to New York City on November 3
In this second summit, the most influential business leaders, investors and politicians gather to discuss social equity, policy and the...
Untitled design (5)
July 28, 2022
Launching Today – The North American Cannabis Report: 3rd Edition
Prohibition Partners are proud to announce the launch of The European Cannabis Report: Edition 7. This report brings the latest information and analysis on the development of the nascent cannabis markets across Europe.
Photography
July 5, 2022
A European Cannabis Report Update at Cannabis Europa London
Conor O’Brien, Lead Analyst at Prohibition Partners, author of the European Cannabis Report: 7th Edition took the stage at Cannabis...
joss-woodhead-3wFRlwS91yk-unsplash
June 2, 2022
Austria Sees Record Imports of Medical Cannabis in 2021
Austria sees record imports of medical cannabis in 2021 while a case at the Supreme Court challenges prohibition. Austria is...