The Forecast for Cannabis-based Products Looks Bright

According to a research report by Ameri Research Inc., the global legal cannabis market was valued at $14.3 billion in 2016 and is projected to grow at a CAGR of 21.1% from 2017 to 2024. By 2024, the projected demand of cannabis will continue to rise for both recreational and medical use, while reaching an estimated global sales value of $63.5 billion. The legal cannabis market is witnessing robust growth thanks to successful legalization and decriminalization campaigns across North America and Europe. The report also points that due to the complex regulatory structure at the state level and federal level, the full potential of the market is not yet realized.