Cannabis data and analytics company Headset predicts that U.S. cannabis sales will eclipse $28 billion next year.
According to the firm, which this week announced the launch of a comprehensive long-term forecast for the U.S. and Canadian markets, U.S. cannabis sales are expected to grow around 24% in each of the next two years.
In 2021, Headset expects U.S. cannabis sales to reach $22.7 billion, up from $18.5 billion last year.
The firm’s estimates include New York, New Jersey, and Arizona, which recently legalized adult-use cannabis. Of those three states, only dispensaries in Arizona are currently selling recreational marijuana.
Meanwhile, in Canada, sales are expected to grow 54.6% and reach $4 billion this year. In 2022, Canadian cannabis sales could grow 32% and hit $5.3 billion, the company said.
Headset’s forecasts include 13 Canadian provinces and 36 U.S. states and jurisdictions, including Arizona, California, Colorado, Florida, Illinois, Massachusetts, Michigan, Nevada, Oregon, and Washington, where it currently collects data.
Drilling down, Headset said it expects U.S. sales of marijuana flower to approach $15 billion in 2022, compared to $3 billion in Canada. Vapes, concentrates, edibles and pre-rolls are the next largest categories.
Combined, all five categories will account for nearly 96% of cannabis sales in 2022, with beverages, capsules, topicals, and tinctures competing for the remaining 4%.
Headset said it plans to update its long-term market forecast — which looks out as far as 24 months — on a quarterly basis. An updated report is expected to hit in July.
Download the full report on the Headset website.
Additional insights are included in the news release below.
SEATTLE — Headset, the leading provider of data and analytics to the cannabis industry, announced today the launch of a long-term forecast for the U.S. and Canadian markets with category and top-level data to