Wall Street Analysts Forecast Massive Growth for the Global Cannabis Market

According to the latest estimates from Wall Street analysts, the global cannabis industry is expected to generate profits of up to $200 billion by 2029, assuming the current pace of cannabis reform continues. While financial analysts are typically cautious about making such long-term business forecasts, the rapid growth of the cannabis industry over the past decade has led most experts to believe that the market will only continue to expand in the foreseeable future.

Market Growth Projections

Based on available data on market growth in the United States and Europe, some organizations, such as Cowen Group, predict that by the beginning of 2030, the global cannabis market will generate at least $75 billion in profits. Meanwhile, Christopher Carey, Chief Financial Officer at Bank of America, believes that the minimum growth benchmark over the next ten years will reach $166 billion, with $62 billion coming from the U.S. and Canadian markets alone.

The most optimistic forecast comes from Andrew Carter, an expert at Stifel, who claims that by the end of 2029, the global cannabis market will generate a minimum profit of $200 billion. Of this amount, 50% is expected to come from the United States, in addition to approximately $7.5 billion from Canada.

Industry Expansion and Future Outlook

Although these forecasts may seem overly optimistic to some, it is worth noting that in recent years, cannabis companies from Canada, Israel, the U.S., and European countries have become increasingly active on major stock exchanges and have formed partnerships with large corporations across various industries. This has provided a solid foundation for further development and growth. If there is a significant breakthrough in global cannabis reform, the development of the global cannabis market could accelerate even further.