Le Lézard
Classified in: Health
Subjects: SVY, TDS, ACC, FVT, MAT

US and Canada Cannabis Market Set to Be Worth Over $US47.3 Billion Annually by 2024 - Prohibition Partners

LONDON, Sept. 3, 2019 /CNW/ -- North America's legal cannabis industry could be worth more than $US47.3 billion annually by 2024, leading cannabis market intelligence and strategic consultancy firm Prohibition Partners has found in its latest report, released today.

Prohibition Partners Logo (PRNewsfoto/Prohibition Partners)

The North American Cannabis Report is the first and only free-to-access in depth report on the cannabis industry in the United States and Canada. The report finds that despite Canada becoming the first G7 country to legalise adult-use cannabis, US market growth will greatly exceed their North American neighbour. Currently the most profitable cannabis industry in the world, the US is expected to enjoy triple-digit growth by 2024, despite not having legalised cannabis on a federal scale. 

In line with Prohibition Partners' other market leading reports, The North American Cannabis Report includes detailed market value forecasts, regulatory timeline analysis, consumption data, healthcare analyses and commercial opportunities across North America.

Key findings of the report include:

Ahead of the launch of the report, Daragh Anglim, Managing Director at Prohibition Partners said: 

"Although North America's legal cannabis industry could be worth more than US$47.3 billion within the next five years, the true value of the market is likely to be much larger than current estimates. This is because, contrary to the hopes of regulators, legalisation is unlikely to eradicate black market sales, particularly in Canada."

"In the US, the model is imperfect. The legal disconnect between federal and state, and between states themselves, presents significant challenges for businesses looking to mature a market with significant potential. Moreover, conflicting adult-use laws in the US are forcing businesses to move to neighbouring states. On a positive note this is fuelling momentum behind legislation as state regulators look to generate and protect tax revenues."

"From an international perspective, in many ways the regulatory frameworks across Europe mirror the patchwork of legislation across the US. Europe, and indeed the world, will continue to monitor developments in North America closely."

Alexandra Curley, Head of Insights at Prohibition Partners, is speaking at MJBizCon INT'L cannabis conference in Toronto and will be available for interviews from 4th to 6th September.

You can receive your free copy of the report from https://prohibitionpartners.com/reports/#the-north-american-cannabis-report along with the full suite of global reports covering Europe, LATAM, Oceania, Africa and Asia.

About Prohibition Partners

Within two years, we have become the world's leading provider of market insights and strategic consultancy for this emerging frontier. We firmly believe that data, insights and education will unlock the societal and commercial potential of cannabis.

Our research and content teams routinely share the latest legislative developments and key trends in the industry ? information that is regularly cited by political leaders, investment banks and Fortune 500 companies.

Our consultancy team works with investors, operators and regulators to identify and execute opportunities across multiple jurisdictions. We advise our private clients on licensing, regulatory and business opportunities.

We are the only data and market intelligence company to have world-wide coverage across Europe, LATAM, Oceania, Africa, Asia and North America.

Logo: https://mma.prnewswire.com/media/717815/Prohibition_Partners_Logo.jpg  


SOURCE Prohibition Partners

These press releases may also interest you

at 18:10
TALTZ® (ixekizumab) demonstrated consistent efficacy and long-term potential to help patients with psoriatic arthritis (PsA) in new data presented virtually today at the European Congress of Rheumatology 2020 (EULAR). Eli Lilly and Company shared...

at 17:47
The U.S. Food and Drug Administration today continued to take action in the ongoing response to the COVID-19 pandemic: The FDA issued an updated FDA COVID-19 Response At-A-Glance Summary that provides a quick look at facts, figures and highlights of...

at 17:30
The "Bioresorbable Medical Material Market to 2027 - Global Analysis and Forecasts by Product Type; Application, and Geography" report has been added to ResearchAndMarkets.com's offering. The bioresorbable medical material market was valued at US$...

at 17:26
The healthcare system in the Commonwealth of Dominica was not strained by the pandemic, with the government managing to contain the spread of the virus from the onset, recording zero deaths and only 16 fully recovered cases. Nonetheless, the...

at 17:25
Since the week of March 12, the Ontario Health Coalition has been tracking all people who have been infected with COVID-19 in outbreaks in health care settings including hospitals, long-term care, retirement homes, public health units, clinics and...

at 17:15
The public has been made aware of the number of COVID-19 deaths and reported cases that have occurred since the beginning of the current pandemic; however, the number of unreported cases has not been widely known or publicized. Recently, the Centers...

News published on 3 september 2019 at 09:59 and distributed by: