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Huge changes in the global cannabis market, 2019-2021
Huge changes in the global cannabis market, 2019-2021

The number of countries that legalized marijuana has increased from 50 in 2019 to 70 in 2021,10 have now legalized adult use, and in only six countries in 2009 (Canada, Uruguay, South Africa, Guam, Georgia and the Northern Mariana Islands) have legalized marijuana for personal or recreational use.With the continuous development of the global legal market, the regulatory structure and social norms are very different, and each country, region and market has the corresponding particularity and differences.

Cannabis represents a very globally influential market.In 2019, as much of the world has not yet legalized any form of marijuana, most of the demand came from illegal or unregulated markets.The number of global cannabis consumers exceeded 260 million (adults consume at least once a year) in 2019 and over 268 million in 2021.

In 2019, global marijuana totaled $344 billion in annual spending.Cannabis sales were near $24 billion in 2020, and sales are expected to double to exceed $50 billion by 2025.Further social acceptance in 2021 and normalization of cannabis use revealed large consumer groups with purchasing potential, with total cannabis expected to cost more than $415 billion worldwide.

1) North America:

North America remains the center of the global cannabis economy, accounting for 97% of legal cannabis sales in 2020.While Canada has defeated the U. S. in establishing a fully legal national market, 38 states have legalized medical or adult use by six times the Canadian population.Over the next few years, U. S. legal market opportunities alone will represent the largest share of global legal demand.As major states (especially New York) prepare to begin adult cannabis sales in 2022, the US will still appear to be a driver of global retail product innovation, novel consumer experience and cannabis culture.

2) Europe:

Europe's laissez-faire attitude towards cannabis (represented by social clubs and cannabis cafes in Spain and the Netherlands, respectively, and the noncriminalization of all drugs in Portugal) is slowly shifting to the regularization and regulation of the medical market.Germany is leading the continent with Europe's largest medical cannabis program, while other markets (including the Netherlands and the UK) are working to reduce traditional barriers to participation and increase access to medical marijuana for its citizens.

Note that the debate on the complete legalization of adult marijuana use in Europe is relatively calm, and there are no social justice issues driving legalization in North America (such as racial inequality in the cannabis ban).However, there are also some small legalization movements in Europe, and Germany is expected to take the lead in cannabis liberalization in Europe.As the EU's largest economy, Germany's major marijuana reform will have a significant impact on European drug policy, and cannabis policy reform advocates on the mainland and abroad will closely watch the results of the upcoming elections in Germany.If Germany selects a wave of candidates supporting reform, it may encourage political candidates in other countries to use cannabis policy reform as a means to motivate young voters, especially reform-minded voters.

In the foreseeable future, the cannabis GREEN RUSH blowing from the other side of the ocean still develops with a rising curve,let us wait and see!

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