Rising High: Exclusive talk with cannabinoid market research firm BDSA
BDSA talks 2021 U.S. cannabis sales, 2022 forecast, trends, and more
In this edition of "Rising High," The Fly conducted an exclusive interview with Jessica Lukas, senior vice president, commercial development of BDSA, a Colorado-based cannabinoid market intelligence and consumer research firm. Here are some highlights:
2021 SALES, 2022 FORECAST: The legal cannabis market boomed in the United States in 2021, with BDSA forecasting approximately $25B in sales in the year, up about 40% from 2020. The massive growth was driven by a number of factors including mature, new and emerging cannabis states, Lukas said. “It’s interesting to look at because your mature legal markets - Colorado, California, Oregon, Washington, Nevada - we’ve seen a lot of growth in those markets at an aggregate level,” she said. “It’s not just about net new markets coming online, it’s actually the mature markets growing as well.”
New legal cannabis states like Illinois, Massachusetts and Michigan are also developing at a rising rate, the SVP said, and emerging states like New York are expected to make massive contributions to BDSA’s forecasted market growth out to 2026. “We’re seeing a greater percent of the adult population consuming cannabis, quarter-over-quarter as well as year-over-year.” Penetration continues to grow even in mature cannabis markets, Lukas said, with states like Colorado, Oregon and Washington seeing about 50% of adults over 21 consuming cannabis, up from roughly 20%-25% in 2017. “We’re also seeing within the cannabis consumers segment, users consuming more frequently,” she said.
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