February 3, 2021 | In The IGG Blog

Projections For Mexico’s Cannabis Market

The 2020 general election here in the U.S. proved to be a historic one for the cannabis industry, which may have overshadowed the big news coming from our Southern neighbors shortly after: The U.S. will soon be sandwiched between two large, national legal cannabis industries. 

At the end of 2020, Mexico passed a legalization bill through their senate. The bill has faced some delays, mostly from a debate about how to implement the law, including possible requirements for consumers. But once it’s up and running, Mexico’s cannabis market has the potential to be the largest legal cannabis market by population in the world. 

Preliminary Estimates  

A report released this week by Headset, a data firm that specializes in the cannabis market, projects Mexico’s market at a whopping $843.7 million, perhaps unsurprising given the many millions of adults who will soon have access to it. 

The report, as cited by Ganjapreneur, included projections about how the market will start (without edibles if they mirror what US states and Canada have done and with shortages until supply catches up with the increase in demand) followed by a rapid increase in the use of inhalable cannabis products. 

Wait & Watch 

While we celebrate the expansion of our industry, we will be eagerly waiting & watching to see what happens in Mexico’s new mega market. A lot will depend on how the bill actually goes into effect, including restrictions and limitations imposed by the government, and how quickly cannabis production ramps up.  

Kevin Hoffman

In 1997, Kevin started a business reselling technology products. In the years since, his business has evolved to sell a wide range of consumable products, working with a variety of distributors, wholesalers, retailers, and manufacturers. ItemGrabber Green is a culmination of these years of experience with an expert focus on the cannabis industry. He has been active in the industry for many years looking for the best products, solutions, and technologies to promote, support, and help cannabis related businesses grow and thrive.

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