Over the next decade, legal cannabis is expected to be one of the fastest growing industries on the planet. After generating $10.9 billion in legal worldwide sales in 2018, various Wall Street estimates have called for between $50 billion and $200 billion in global sales in roughly a decade’s time. No matter how you slice the data, it calls for an average annual growth rate that’s in the double digits.
However, these global sales figures are a bit misleading, because the United States is expected to make up such a considerable portion of global sales. Investment bank Stifel, which has the most aggressive 10-year sales forecast on Wall Street, is calling for $100 billion in annual legal weed sales in the U.S., comprising half of all global sales. Meanwhile, Christopher Carey at Bank of America believes the U.S. can account for 34% of his firm’s utopian global annual sales