North American sales of cannabis are expected to grow to $24 billion by 2021, Jessica Lukas, vice president of consumer insights at BDS Analytics, shared during the final day of the Beer Institute’s annual meeting in Milwaukee, Wisconsin. That figure, she added, doesn’t account for a potential end to the federal ban on marijuana in the United States.
The nascent legal U.S. marijuana market currently processes about $9 billion in sales, Lukas said, noting that it trails the $350 billion beer industry by a wide margin. She added that it’s too soon to predict how the growth in the marijuana industry and legalization of adult recreational use will affect beer sales.
BDS, a Boulder, Colorado-based market research firm that tracks sales in the cannabis industry, has processed and analyzed more than 800 million legal cannabis transactions along with 17,000