Exploring the Growing Cannabis Market: Statistics, Sales, and Consumer Engagement

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  • Exploring the Growing Cannabis Market: Statistics, Sales, and Consumer Engagement

The cannabis market is experiencing significant growth. With this growth, comes a surge in demand for cannabis products, leading to new opportunities for businesses in the industry. In this blog, we will delve into the latest statistics, sales, and consumer engagement trends in the cannabis market.

Statistics:
According to a report, the global legal marijuana market size was valued at USD 17.7 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 18.1% from 2021 to 2028. The report also reveals that the recreational use segment is projected to expand at the highest CAGR during the forecast period.

Sales:
The increasing demand for cannabis products has resulted in a surge in sales. A recent report revealed that global cannabis sales increased by 48% to $21.3 billion in 2020. The report also forecasts that the global cannabis market will reach $55.9 billion by 2026, representing a CAGR of 15.3%.

Consumer Engagement:
The growing popularity of cannabis has also led to increased consumer engagement. According to a popular report, a cannabis data analytics company, reveals that cannabis consumers are becoming more sophisticated and educated. They are seeking out products with specific effects, flavors, and aromas. The report also highlights that cannabis-infused beverages are becoming increasingly popular among consumers.

Cannabis Delivery in Hamilton:
With the increasing demand for cannabis products, the cannabis delivery market is also experiencing growth. Cannabis Delivery in Hamilton is one such service that has seen a surge in demand. These services allow consumers to purchase cannabis products online and have them delivered to their doorstep. This convenient and discreet service has become increasingly popular, particularly during the COVID-19 pandemic.

The cannabis market is experiencing significant growth, with increasing sales and consumer engagement. As the legalization of cannabis continues to expand, we can expect to see further growth and new opportunities for businesses in the industry.