How New Adult-Use Markets Accelerate the Expansion of Legal Cannabis

May 10, 2021 3:42:08 PM / by BDSA posted in Market Trends, Cannabis Industry, Cannabis Legalization, cannabis insights

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So far this year, Virginia, New York, and New Mexico have legalized adult-use sales, bringing the total of states with adult-use cannabis to 18, in addition to the District of Columbia, Guam and Northern Marianas Islands. With the passage of legalization in these states, more than 108 million Americans aged 21 and over, 43.2% of the country’s adult population, now have access to legal cannabis. While expansion of access to any new states is cause for optimism, these recent moves are notable due to the momentum they will add to further legalization efforts.

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CANADIAN CANNABIS SPENDING SOARS TO $2.6 BILLION IN 2020

Apr 15, 2021 2:51:37 PM / by BDSA posted in Canadian Cannabis Market, Market Trends, Cannabis Industry, Consumer Insights, cannabis insights

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BDSA estimates that total legal cannabis spending in Canada reached more than $2.6 billion in 2020, based on BDSA’s Canadian retail sales tracking and available government data through February. That is slightly higher than BDSA’s previous forecast of $2.5 billion—which was intentionally conservative in anticipation of impact from the COVID-19 pandemic. As in the United States, however, Canada’s legal cannabis industry saw only limited, short-term negative effect from the pandemic in 2020.

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Using Basket Analysis to Win in Store

Apr 8, 2021 11:10:32 AM / by BDSA posted in Market Forecasts, Retail, Market Trends, Cannabis Industry, Consumer Insights, cannabis insights

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A high-level understanding of cannabis markets is key for any business looking to succeed in the industry. But as legal markets mature, those in the highly competitive cannabis retail space need a more detailed view of consumer behavior and purchasing trends to stay ahead of the curve. BDSA offers a variety of tools to help retailers and brands make informed business decisions.

Retail Sales Tracking provides a granular view of sales trends, category mix and brand/product performance in 10 U.S. cannabis markets. Consumer Insights gives a detailed look at consumer demographics, preferences and behaviors. Now, BDSA’s new Basket Analytics product gives a comprehensive view of per-transaction purchasing dynamics.

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Adult-use Legalization Spells Huge Opportunity in New York

Apr 1, 2021 10:48:06 AM / by BDSA posted in Market Forecasts, Cannabis Consumption, U.S. Cannabis, Cannabis Industry, Cannabis Sales Forecast, Cannabis Legalization

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More than two years after pledging support for cannabis legalization, New York Gov. Andrew Cuomo signed a legalization bill Wednesday morning that will pave the way for an adult-use market to be launched sometime in early 2022. The states medical program saw slow growth from its start, just reaching $111 million in sales in 2020, but the legalization of adult-use will reposition New York to be one of the biggest cannabis markets in the country by 2026.

Gov. Cuomo has signaled his openness to adult-use cannabis since early 2019, but disputes over licensure, tax rates and the allocation of cannabis revenue have blocked the progress of adult-use legalization until just last week. While previous efforts focused on using the state budget as a method to legalize, the Governor’s office and legislature agreed on a separate bill, which passed through the legislature on March 30, 2021 and was signed into law the next morning. BDSA predicts that sales will start in Q1 2022.

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Global Cannabis Sales Exceeded $21 Billion in 2020; BDSA Teams Up with Canaccord Genuity to Discuss the Latest Outlook

Mar 5, 2021 3:14:20 PM / by BDSA posted in Market Forecasts, Cannabis Consumption, U.S. Cannabis, Cannabis Industry, Cannabis Sales Forecast, Cannabis Legalization, cannabis insights

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BDSA’s Chief Executive Officer, Micah Tapman and Vice President of Insights and Analytics, Kelly Nielsen recently joined Canaccord Genuity’s Bobby Burleson for a lively discussion surrounding BDSA’s latest market forecast. Here are the highlights!

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Arizona Launches Adult-Use Sales in Record Time

Feb 9, 2021 12:48:07 PM / by BDSA posted in Market Forecasts, Cannabis Sales Forecast, Cannabis Legalization, cannabis insights

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With the launch of sales on January 22, 2021, Arizona became the 10th state with adult-use cannabis retail. The state is already home to one of the most developed medical cannabis markets in the country, as BDSA’s retail sales tracking shows that Arizona brought in over $1 billion in medical sales for 2020. While Arizona’s market will likely deal with issues that are common in new adult-use markets, such as undersupply and limited retail coverage, BDSA expects Arizona to see strong adult-use sales in 2021.

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Expectations for Federal Cannabis Reform in 2021

Jan 19, 2021 9:39:02 AM / by BDSA posted in U.S. Cannabis, Cannabis Industry, Cannabis Legalization, cannabis insights

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With the results of the 2020 election finalized, one of the clear winners was the cannabis industry, with every legalization proposal on the ballot passing. Voters in 2020 showed that cannabis legalization has grown in popularity to the point that it is no longer a partisan issue, but the progress seen in legalization at the state level has been accompanied largely by inaction at the federal level. The election of Joe Biden to the presidency and the recent progress of cannabis legislation in the House of Representatives give hope that the gridlock on nationwide cannabis reform may be coming to an end in 2021.

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Top 10 Cannabis Predictions of 2021

Jan 6, 2021 1:09:17 PM / by BDSA posted in Market Forecasts, Market Trends, Cannabis Industry, Market Insights, cannabis insights

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The Year Ahead – The Cannabis Industry in 2021. 

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In-Depth Look at Cannabis Beverages

Dec 14, 2020 4:28:30 PM / by BDSA posted in Edibles, Cannabis Consumption, Market Insights, Cannabinoid Beverages, Cannabis Consumer

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Cannabinoid beverages are a hot topic, drawing considerable attention from both existing legal cannabis players and participants in the broader consumer packaged goods markets. Total spending on legal cannabis in the United States is set to more than double to $34.5 billion by 2025and the edibles product category, including beverages, is outpacing that rise considerably. In Canada, where edibles just made their debut late last year, the category is growing much faster than the overall market, which is forecast to reach $6.1 billion in 2025. 

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BDSA Webinar Recap - EAT: Insights into the Edibles Market

Dec 4, 2020 1:48:29 PM / by BDSA posted in Edibles, Cannabis Consumption, Market Insights, Cannabis Gummies, Cannabis Consumer, Gummies

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Cannabis edibles are a key driver of legal cannabis sales, accounting for 15% of total spending at present. That share is forecast to increase over time: By 2025, sales of edibles are expected to grow to 2.4 times 2020 sales volume versus 2.1 times growth in the total legal cannabis market—where sales are forecast to expand from $16.2 billion in 2020 to $34.5 billion in 2025.

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