State Legalizations Drives U.S. Cannabis Market. Headset releases updated market forecasts for Canadian and U.S. cannabis industries.
SEATTLE, July 14, 2021 /PRNewswire/ — Headset, the leading provider of data and analytics to the cannabis industry, today released quarterly updates to its long-term forecasts for the legal U.S. and Canadian cannabis markets. Headset’s projections are revised at the end of each quarter to provide cannabis industry participants and observers with the most relevant and accurate market data at category level and in total. This is Headset’s first quarterly update for its comprehensive forecasts, which launched earlier this year.
Related: Should I Buy Trulieve Cannabis Stock Now?
The U.S. and Canada market forecasts include 13 Canadian provinces and territories and 36 U.S. states and jurisdictions with any level of legalization (recreational and medical), and the data will be presented in the aggregate for each calendar year. With Headset’s new methodology, forecasts cover at least fifteen months and at most two years.
Key takeaways from the Overall Market View update include:
- U.S. forecast for 2022 has surpassed $30B, strongly driven by the recent legalization of recreational cannabis in multiple states including Connecticut and New York
- U.S. market growth will not slow in the near future, with a higher YoY growth rate expected in 2022
- Little changed in Canada’s market forecast, which is still expected to reach $4B by 2021
Headset’s category market view examines each country’s individual market structure and projects how trends in each category might evolve over time. All forecasts are dependent on current levels of legalization and regulations, which are subject to change.
Related: Legal Cannabis Sales Forecast to Grow 21% Per Year Through 2024
Key takeaways from the Category Market View update include:
- Category share in the U.S. will see little change between 2020 and 2022, with certain trends balanced out by new legal markets
- Flower will remain the main growth driver for the U.S. market well into 2022, when its contribution to total market sales reaches 47%
- In Canada, Flower share drops 6.5% between 2020 and 2022 from 57.5% to 51% while all other categories remain fairly stable
- From 2021 to 2022, Pre-Roll growth contribution in Canada significantly increases from 23.4% to 29.2%
Related: Organigram Stock is Down But is it Out?
About Headset:
Headset is a data analytics company in the cannabis industry with a mission to help businesses make better-informed decisions through data. Headset focuses on collecting and analyzing consumer transaction information. Headset’s models and dashboards help cannabis retailers better optimize their day-to-day operations. In addition, product manufacturers, processors and distributors leverage the aggregated, standardized and anonymized receipt-level sales data in real-time to identify trends and opportunities, stay competitive and collaborate with retail customers. Learn more at https://www.headset.io/.
State Legalizations Drives Cannabis Market
Contact:
Renee Cotsis
MATTIO Communications
renee@mattio.com
SOURCE Headset
Related Links
State Legalizations Drives Cannabis Market
About Cannin: Your Cannabis Stocks Resource
78% of Cannin’s fundamentals prove true within 30 days or less on 100+ recommendations over the past 2 years.
Cannin is your #1 trusted resource for cannabis stocks. Our global team of experts evaluates all emerging cannabis stock investing opportunities. We aggregate hundreds of hours of financial research and provide tips on the best cannabis stocks for 2021.
Use Cannin as your resource for:
Market analysts expect the marijuana and hemp industry will have an annual value exceeding $75 Billion in the next decade. Is it too late to invest in marijuana stocks? No! This is the perfect time to invest.
Are you looking to buy stock in hemp companies or marijuana companies for 2021? Interested in new penny hemp stock companies? Looking for the best Canadian cannabis stocks to invest in? Looking to leverage the power of algorithmic stock trading to beat the cannabis market? We can help.
Are you interested in cannabis stocks like Curaleaf, Trulieve, Aurora Cannabis, Charlotte’s Web, Canopy Growth, or Hemp Inc.?
Predict price movements of cannabis stocks several hours in advance with our proprietary algorithmic stock trading software.
- +30% Gains in 2020
- +49.8% Gains in 2019
- Backtested since 2012
We’re so confident you’ll love our algotrading cannabis stock signals, we’re willing to give you a one-month risk-free trial to see it for yourself.
Profit from the best cannabis stocks – we’ll show you how at cannin.com.
