Still, analysts predict there will be plenty of money to be made.
A report from Arcview Market Research and BDS Analytics recently estimated that spending growth on legal cannabis will speed up this year, hitting almost $17 billion worldwide, and ballooning to $31.3 billion in 2022.
In its annual State of Cannabis report, the cannabis delivery platform Eaze highlighted that the market is rapidly expanding beyond young men — even if, as Peter Gigante, the company’s head of policy research, noted, one in five people surveyed admitted to buying from an unlicensed source in the last three months. “I think there’s a lot of focus on getting consumers into the legal market,” he said.
Part of that will certainly involve tailoring products especially to new consumers, who may not have been willing to try out