The North American cannabis industry continued to demonstrate resilience in the first half of 2024, with recent data from market watchers showing a promising picture for the years ahead.
A Research and Markets report shows the North American market is seen experiencing significant growth, expanding from a size of US$35.6 billion in 2023 to a projected US$298.5 billion by 2032. This represents a substantial compound annual growth rate of 26.65 percent, indicating a remarkable increase in market value over the forecast period.
While the US and Canada still face challenges, the MJBiz Factbook says more than 48 percent of revenue-generating cannabis businesses expect the industry to perform “somewhat better” or “much better” in the next 12 months.
Read on to learn what moved the US and Canadian cannabis sectors in the first half of 2024.
Cannabis producers show signs of strength in H1
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