Cannabis market already at $ 340 billion today (38/41)

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“Worldwide, more than 50 countries have legalized medicinal cannabis in some form. Six countries have legalized cannabis for adult use (also known as recreational use), ”said Giadha Aguirre de Carcer of New Frontier Data:“ The legal cannabis industry is indeed a worldwide phenomenon today. Despite far-reaching bans, cannabis use is increasing, and the critical attitude towards typical cannabis users continues to weaken. " There are an estimated 263 million cannabis users worldwide; the current global demand for cannabis is estimated at $ 344,4 billion. Worldwide, an estimated 1,2 billion people suffer from health problems for which cannabis has proven therapeutic benefits. If medicinal cannabis treatment were to catch on even a small fraction of this population, it would create a huge market. Canada, the country with the largest legalized adult cannabis market in the world, pioneered the cannabis trade, exporting nearly 2018 tons of dried cannabis in 1,5 (three times the amount in 2017). Regions like Latin America and possibly Africa could potentially compete in the export market thanks to low production costs and optimal climatic conditions.

Written by Helmut Melzer

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