Our sector is one of the fastest growing markets in the world as more countries are legalising recreational and medicinal cannabis.
Worldwide consumer spending on legal cannabis rose by 28% in 2018 and is forecast to grow by 38% this year. Institutional investment is reacting, and last year saw beverage giant Constellation Brands’ $4 billion investment in Canopy Growth and tobacco-market leader Altria buying a 45% stake in Cronos valued at $1.8 billion.
In the US, 30 of the member states have passed laws regulating the use of medical cannabis. In 11 of these states the use of cannabis is legal for any purpose.
In the next five years, Europe is set to become the world’s largest legal cannabis market. With a population of more than double that of the United States and Canada combined, the market is ripe, and the industry has grown more in the last year than the previous six.