The North American Cannabis Report: 3rd Edition

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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.

As well as the free-to-download version of The North American Cannabis Report: 3rd Edition, there are Premium Packages available that provide additional specialist information and data analytics to help connect with the industry, make smarter decisions, maximise marketing impact and improve business performance.

LATAM Report

£590

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Market Sizing Data

£1290

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Market Sizing + LATAM Report

£1490

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*Please note: Market sizing analysis is not included in the free-to-download version of the report. For market sizing, please see the Premium Packages tab below.

The North American Cannabis Report: 3rd Edition

LATAM Report

£590

Market Sizing Data

£1290

Market Sizing + LATAM Report

£1490

*Please note: Market sizing analysis is not included in the free-to-download version of the report. For market sizing, please see the Premium Packages tab below.

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Overview

In 2021, the North American cannabis industry continued to grow and showed more promise than ever, with New York, New Jersey, Virginia, New Mexico, Montana and Connecticut all enacting, amending or passing adult-use cannabis legislation during the year. This state-by-state approach to legalising adult-use cannabis has especially benefited America’s larger multi-state operators, who are gradually expanding into emerging state markets, acquiring licences and establishing cultivation facilities and distribution channels as new laws are implemented.

Despite a wealth of optimism for full cannabis legalisation in the United States after President Joe Biden was elected and the Democrats took control of the Senate, there has been very little movement by both House Representatives and Senators to pass new laws that would create a clearer path for the industry.

Prohibitions Partners has combined all of this opportunity with current consumer behaviours and anticipated legislation on both the adult-use and medical sides to create sales projections from 2022 to 2026. In the US, adult-use sales are estimated to reach US$18.5 billion in 2022 and grow by 218% to US$58.8 billion by 2026. As adult-use markets grow, they will eat into medical markets. With that in mind, estimated sales will grow by 41.5% between 2022 and 2026, from US$9.2 billion to US$13.1 billion.

Canadian adult-use sales are estimated to experience healthy growth as well, from just over US$4 billion in 2021 to US$7.6 billion in 2026, or by 91%. The federal adult-use programme will flatten medical sales, however, which are expected to decrease by 11%, from US$440 million to US$379 million.

Trends - North America

Legislation
COVID-19's impact
Adult-use demographics and product trends
Licit and illicit cannabis sales in Canada
Mergers and Acquisition

Trends - Canada

Canadian cannabis inventory vs. sales
Right sizing and retail ramp ups
Exports of medical cannabis from Canada
Legacy products and innovation

Trends - USA

US public opinion on cannabis legalisation
State-by-state legalisation update during 2021
Emerging US mega-markets
Regional patchwork of regulations
Hemp, CBD and persistent THC taboos

Market Sizing

Canada
USA
States estimated to experience rapid growth
Estimated medical sales in the US
CBD Sales in the US

Expert Interviews

Chris Beals, Weedmaps
Jeffrey Raber, The Werc Shop
Joe Hodas, Wana Brands
Irwin Simon & Denise Faltischek, Tilray

Key Findings

Prohibition Partners estimates that, by 2026, adult-use cannabis sales will go from US$18.5 billion to US$58.8 billion in the US and the Canadian market to go from US$4 billion to US$7.6 billion.
The effects of lockdowns and stay-at-home orders that created sky-high adult-use cannabis sales in 2020 continued through 2021 across North America, with more record-breaking regulated sales.
Men still purchase the vast majority of cannabis in 2021, out-buy-ing what women buy by more than half, according to Headset. Growth is largely attributed to Generation Z consumers, whose sales share grew steadily through 2020 and 2021.
According to New York’s Viridian Capital Advisors, there were 306 cannabis industry mergers and acquisitions in 2021, more than three times the 86 counted in 2020.
Florida’s largest cultivator and retailer, Trulieve Cannabis, also made history in 2021 by making the largest cannabis acquisition in the US thus far: Arizona-based Harvest Health & Recreation Inc. for US$2.1 billion.
Canada’s smaller craft cultivators and producers have ramped up, growing market share with premium cannabis products. Many of the country’s largest LPs are downsizing and struggling to retain market share.
The Canadian industry is firmly in its right-sizing phase, with the market still vastly oversupplied and a glut of retail storefronts, particularly in the populous province of Ontario.
The federal Cannabis Act is scheduled for a review, and there are high hopes for a change to the rates of taxation, marketing restrictions and more representation of visible minorities in the workforce.

Package 1 - LATAM report - £590

This additional 60-page report includes: LATAM medical and adult-use market sizing forecasts up until 2026, including a deep dive on the timelines for legislation, proposed models and business opportunities for key LATAM markets over the next five years.

Package 2 - Market Sizing Data - £1290

This data bolt-on includes market sizing forecasts up until 2026, a state-by-state breakdown of growth, and a description of the driving forces behind growth in key markets.

Package 3 - Market Sizing + LATAM Report - £1490

Purchase both the Market Sizing and LATAM Report packages in a single bundle, for the most comprehensive understanding of the North American and LATAM markets.

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The North American Cannabis Report: 3rd Edition

LATAM Report

Market Sizing Data

Market Sizing + LATAM Report

The North American Cannabis Report: 3rd Edition

Overview

Trends - North America

Trends - Canada

Trends - USA

Market Sizing

Expert Interviews

Key Findings

Package 1 - LATAM report - £590

Package 2 - Market Sizing Data - £1290

Package 3 - Market Sizing + LATAM Report - £1490

As Trusted By

Insights

on the global cannabis industry

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