According to Forbes (and a new report from the Brightfield Group), the global marijuana market may top $31.4 billion by 2021, which far exceeds its current valuation at $7.7 billion. Projections of compound annual growth rates of 60% are based on other countries adopting more liberal marijuana laws. Countries like our northern neighbors. Canada is the catalyst for growth thanks to their 2018 plans for legalizing recreational marijuana. So hats off to Trudeau, who not only made good on a campaign promise (politicians do that?!), but also recognized the economic value of the industry. Trudeau’s progressive marijuana regulations are bolstering the Canadian marijuana market, one where exports are dominated by just four Canadian weed producers: Cronos Group, Canopy Growth Corporation, Aphria, and Tilray. Though Canada is a global ganja giant, other countries have opened their borders to permit exporting marijuana. Well, not many countries. Just two- the Netherlands, and now Poland. But with Latin America and Europe adopting more liberal laws, and German political parties considering recreational legalization, investors should continue to monitor the dollars rolling into this market.
Despite half of the states in America having legalized marijuana for recreational and medicinal purposes, the divisiveness of the drug remains fully intact. Fear of federal criminal liability and stigmatization leave many on the periphery of what is the fastest growing industry in North America.