A recently released report by Fact.MR forecasts that this year the global marijuana-infused drinks market will experience significant growth. Projections also show that a decade from now, the market’s revenues will have grown by more than 20 times, with a compound annual growth rate of about 38% to reach roughly $6 billion. Marijuana is legal in more than 35 states for medical use and in 16 states for recreational use. The herb’s legalization has prompted an increase in the demand for marijuana and marijuana goods. This has led to more marijuana-infused beverage businesses entering the market in an attempt to meet this rising demand. The spread of the legalization of recreational marijuana in the U.S. is expected to boost demand for marijuana-infused drinks in particular. Data shows that between 2016 and 2020, sales for marijuana-infused goods grew at a compound annual growth rate of about 20%, to reach $250 million last year.
CannabisNewsWire, 08/12/2021 16:20:00
Open article: https://www.cannabisnewswire.com/420-with-cnw-data-forecasts-global-marijuana-drinks-market-to-hit-6b-by-2030/