V-Con: Medicinal cannabis – which global firms will take the $US35 billion cake?
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Global cannabis sales could hit $35 billion in 2022 – that’s a 22% increase on $29 billion in 2021.
BDSA Analytics says the compound annual growth rate (CAGR) of the cannabis industry sits at a massive 15% yoy until 2026.
“Though most legal cannabis markets saw sales soften in the second half of 2021, the global cannabis market is expected to see brisk growth in 2022, driven by strong sales in new and emerging markets in the US, steady growth in Canada and international markets lead by Mexico and Germany,” BDSA chief commercial officer Jessica Lukas said.
In the US, a big chunk of these sales are expected to come from New Jersey with the launch of adult use sales expected in the second quarter.
BDSA forecasts a 220% jump from an estimate $250 million in 2021 to a whopping $792 million this year.
Canada’s legal market is projected to sell $4.7 billion in 2022 up from $3.8 billion last year. BDSA says international sales will hit $2.2 billion (up from $1.4 billion in 2021) with a CAGR of 46% out to 2026.
Lukas said the countries to watch are Germany, Mexico, France, and the United Kingdom, with Mexico leading the way in the near-term due to a Supreme Court decision having cleared the way for adult-use in 2023. Germany is close behind, with BDSA forecasting adult use sales in 2024.
This huge growth in medicinal cannabis markets is expected to benefit ASX listed players.
Today we’ll hear from experts and a selection of listed companies making waves in the sector — each giving an overview of market trends, price dynamics, and future plans.
Sky News and CNBC business journalist Oriel Morrison interviews Bruce Linton – founder of Canopy Growth Corporation and industry pioneer.
Bruce is an active investor with Slang Worldwide Inc and with OG DNA Genetics Inc. A passionate entrepreneur with a focus on making a positive difference in the world. He has experience building strong technology driven companies and positioning them in sectors driven by waves of public policy change.
MGC Pharmaceuticals (ASX:MXC)
Ron Lipsky, Vice President, Business Development & International Relations
MGC Pharmaceutical is a European based bio-pharma company specialising in the production and development of phytocannabinoid-derived medicines. The company aims to utilise the medical value of phytocannabinoids to provide relief to people suffering across the globe.
Neurotech International (ASX:NTI)
Brian Leedman, Non-Executive Chairman
Neurotech International is a medical device and solutions company conducting clinical studies to assess the neuro-protective, anti-inflammatory and neuro-modulatory activities of its proprietary cannabis strains.
Creso Pharma (ASX:CPH)
Will Lay, CEO & Managing Director
Creso Pharma applies its pharmaceutical expertise to develop, produce and market a range of cannabis derived products to better the lives of people and animals.