The total U.S. cannabis market is expected to reach more than $30 billion in annual sales by the end of 2022 and expand to $51.7 billion by 2027, according to a report from consumer insights data firm Brightfield Group.
But where will the bulk of the industry growth come from?
Brightfield Group anticipates most industry growth between 2022 and 2027 to come from states that have recently legalized adult-use or are expected to legalize soon—specifically noting the East Coast, as “Western markets reach maturity and saturation.”
As more adult-use states in the East come online, in-state purchases are expected to account for more than 80% of revenue. Nationwide, adult-use markets that have yet to launch are expected to account for 40% of adult-use sales in 2027.