CHICAGO–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/cannabis?src=hash” target=”_blank”gt;#cannabislt;/agt;–Legal cannabis became a US$12 billion global market in 2018 with
exponential growth ahead, reaching US$166 billion by 2025, based on
estimates from global market research company Euromonitor International.
The global cannabis market, both legal and illicit, stands at US$150
billion today, according to a new white paper from Euromonitor
International. By 2025, legal cannabis will represent 77 percent of the
“Within 10 years, cannabis will be a regular part of daily routines,”
said Zora Milenkovic, head of drinks and tobacco at Euromonitor
International. “From a functional ingredient to an intoxicating buzz,
cannabis will reshape fast-moving consumer goods, with food, beverages,
beauty, health and tobacco having the most potential for disruption.”
The greatest potential for cannabis is to capitalise on health and
wellness trends that are shifting consumption habits and consumer
preferences across industries.
Cannabis is most embedded in alcohol and tobacco. The growth of low- and
non-alcoholic beverage consumption and the shift from cigarettes to
vaping provide an opportunity for cannabis to replace alcohol and
tobacco in social occasions.
From 2018 to 2025, legal cannabis is estimated to grow more than 2,000
percent globally, compared to alcoholic drinks at 1.4 percent and
tobacco at 1.2 percent, according to Euromonitor International.
In consumer health, Euromonitor International expects vitamins and
dietary supplements to be the largest cannabis-related category by 2025,
with 2 percent of sales to come from products containing THC or
cannabidiol, better known as CBD.
Euromonitor International expects global sales of packaged food with CBD
to double over the next two years, further blurring the lines between
consumer health and food.
Download Euromonitor International’s white
paper, “Here Comes Cannabis: How Legalisation Will Disrupt Global
Industries”, and webinar,
“Cannabis Legalisation: How it Will Disrupt the Future”, to understand
the impact of legal cannabis across industries.
ABOUT EUROMONITOR INTERNATIONAL
International is the world’s leading provider for global business
intelligence and strategic market analysis. We have more than 40 years
of experience publishing international market reports, business
reference books and online databases on consumer markets.
Senior Communications Executive – Euromonitor
Tel: +1 312 922 1115 ext. 8908