According to a report by New Frontier Data, which analyses the current cannabis economy in the United States, the factors driving the bullish market for cannabis are strong consumer demand, an increase in newly operational legal state markets in recent years, the normalization of cannabis consumption, and increasing societal recognition of marijuana's therapeutic and wellness applications.
In addition, given the bill passed by the House of Representatives on Friday that could legalize marijuana nationwide, the demand for cannabis is expected to soar. According to cannabis data experts at BDSA Analytics, global cannabis sales will reach $35 billion in 2022, an increase of 22% from 2021.
