U.S. Cannabis Industry Remains Strong Despite Headwinds

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Researched by Industrial Info Resources (Sugar Land, Texas)--While U.S. cannabis sales have plateaued and even fallen in some of the most mature markets such as California, Colorado, Washington and Oregon, newer markets such as Michigan, Illinois and Nevada continue to see brisk sales growth.

Mature markets have experienced declines in retail prices and a challenging macroeconomic situation. Current cannabis headwinds include state tax rates, limited availability of storefront cannabis retail outlets and federal banking rules. Even with these constraints, according to MJBizDaily, U.S. cannabis retail sales are expected to be $33 billion in 2022 and climb to $52.6 billion in 2026.

With some states allowing many retail and cultivation licenses, mergers and acquisitions within the industry will remain prolific to centralize administration. The hope of the industry is to see a halt or at least of an abeyance of federal regulations to further the cannabis market. Cultivation facility and final product capital project growth is expected to increase with projected retail sales.

Industrial Info is tracking 122 U.S. capital cannabis projects worth $2.52 billion. Subscribers to Industrial Info's Global Market Intelligence (GMI) Pharmaceutical and Biotech Project Database can click here for a list of detailed project reports.

Click on the image at right for a graph showing U.S. cannabis project activity by market region.

Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 Trillion (USD).