The Brightfield Group recently released its “U.S. Cannabis Market Forecast” on Feb. 16, which presents data of comparisons from cannabis sales in 2022, and five-year sales projections between 2023 and 2028. Nine of the states on the East Coast have medical cannabis, and seven have legalized adult-use cannabis. The Southern region of the U.S. will likely see the least amount of growth, with a focus mainly on medical cannabis sales. Adult-use cannabis sales from states on the West Coast, specifically Colorado and Washington, could grow to $11.5 billion by the end of 2023, and $15.3 billion by 2028. Although adult-use sales haven’t been approved in Ohio or Minnesota yet, these markets are expected to legalize within the next few years.
The Brightfield Group recently released its “U.S. Cannabis Market Forecast” on Feb. 16, which presents data of comparisons from cannabis sales in 2022, and five-year sales projections between 2023 and 2028. According to the report, the cannabis industry is poised to reach more than $31.8 billion in annual sales by the end of this year, with a projected $50.7 billion by 2028.
The cannabis industry has recently seen a dip in sales in some markets, such as Arizona and Colorado....
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