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Why Hotels Can’t Ignore the Cannabis Boom

Cannabis Sales Expected To Rise to $55.9 Billion Globally in 2026

Hotels simply can’t afford not taking notice of opportunities in the fast-expanding cannabis market. If we take a closer a look at the facts and figures, they certainly don’t lie.

Legal cannabis sales are forecast to rise to a whopping $55.9 billion globally in 2026 from $21.3 billion in 2020, expanding at a compound annual growth rate of over 17%, or $6 billion a year. Sales in the U.S., a key market with an 83% share in the worldwide total, expanded by 45% last year. Global sales of products containing cannabidiol, a cannabis ingredient with no psychoactive effects, is estimated to grow even faster, expanding at a CAGR of 48.1% to $165.7 billion in 2027.

Demand for cannabis and cannabis-derived substances is expected to continue rising as they could be beneficial in treating symptoms of various health conditions, including forms of epilepsy, chronic pain or multiple sclerosis. During the pandemic, many people turned to cannabis or CBD products to reduce stress, anxiety or sleep problems.New Markets To Come