Infographic highlights vital cannabis-business insights for investors

In 2020, cannabis experienced significant growth as a result of the COVID-19 pandemic

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A new infographic from Visual Capitalist aims to show investors looking to get into the cannabis market what to expect from the burgeoning sector.

In the article that accompanies the visualization, Katie Jones notes that 2020 was a record-breaking year for the weed biz. “Unlike dozens of other industries across the globe, cannabis experienced significant growth as a result of the COVID-19 pandemic,” Jones writes.

That’s because people spending more time at home have turned to cannabis. According to Jones, many use it “both as a means of entertainment, and to reduce stress and anxiety associated with the pandemic”.

Jones further notes that in Canada, monthly sales reached an all-time high of $270 million in October 2020. This, she wrote, marked a dramatic increase from sales of around $180 million just six months earlier.

Meanwhile in America

Meanwhile south of the 49th parallel, the U.S. market continues to grow. Because cannabis is legal in many states but still restricted in others, millions of Americans continue to turn to the illicit market.

According to data from investment-banking firm Cowen & Co., however, investors can expect to see legal sales hit the US$50 billion mark by 2026. During the same period, illegal sales could plummet below US$1 billion.

Infographic: The Grass Is Looking Greener | Statista You will find more infographics at Statista

Jones further advises investors to keep their eyes on the European and Mexican markets, and to take note of the growing popularity of edibles and oils. She also cites the fact that products containing the cannabinoid CBD have hit the mainstream. Consumers can choose from a growing array of things containing CBD, from skincare and supplements to pet-care products.

Check it out below:

Infographic from Visual Capitalist. Click to view full-size.

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