Las Vegas (CNN Business)When members of the cannabis industry descended upon Las Vegas last week for the biggest trade show in the business, there was something stirring in the air. It wasn’t the aroma of a freshly lit joint, but rather a sense that everything seems to be coming up roses for the industry.
Despite a global pandemic, discombobulated supply chains, ballooning inflation and an ongoing fight to legalize marijuana on a federal level, the cannabis industry in America is flourishing.
Sales hit $20 billion in 2020, are on pace to top $26 billion this year, and are projected to leapfrog to $45.9 billion in 2025, according to data from Marijuana Business Daily that were shared at the MJBizCon, the industry’s annual trade show. The nearly $46 billion in saleswould make the cannabis industry larger than the craft beer industry, said Chris Walsh, chief executive officer and president of MJBizDaily.
“These are potentially conservative numbers with what we see playing out,” Walsh said during the kickoff to the three-day event.
Snowballing US sales shouldn’t come as a surprise. At this point, the majority of Americans live in a state where some form of cannabis is legal. [Read More @ CNN.com]
The post Cannabis is one industry that’s actually coming out of Covid even stronger appeared first on Cannabis Business Executive - Cannabis and Marijuana industry news.