What's Happening in Cannabis? Q2 2021

August 2021

The cannabis industry is rapidly seeing new developments across the spaces of regulation, mergers & acquisitions and product launches. This report covers these changes which have occurred during the second quarter of 2021. In addition, the concluding portion of this briefing covers the latest updates to Euromonitor’s macroeconomic model as well as a preview of upcoming developments in the third quarter of 2021.

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Key Findings

The latest Euromonitor International macroeconomic forecasts

The global economic outlook has improved since Q1 2021. Global real GDP growth in 2021 is now expected to be the fastest in more than 40 years, at 5.8% (a 0.5 percentage points upgrade relative to the Q1 forecast), followed by 4.5% growth in 2022 (a 0.4 percentage points forecast upgrade). The forecast upgrade is mainly driven by advanced economies, which are now expected to grow by 5.0% in 2021 (a 1.0 percentage point increase relative to the Q1 forecast) and by almost 4% in 2022 (a 0.7 percentage points forecast upgrade), compared to the long-term trend growth of 1.5%. In contrast, developing economies’ real GDP growth rate forecast for 2021-2022 has been raised by just 0.2-0.3 percentage points to 6.5% and 5.0%, compared to the long-term trend of 4.1%.

The strong recovery for advanced economies is mainly driven by the US, due to its relatively fast vaccine deployment and the strong fiscal stimulus measures deployed by President Biden. Faster than expected increases in vaccination rates and a reduction in coronavirus infections in the UK have also led to a major upgrade in UK forecasts. Among developing economies, the economic outlook has improved in China, Mexico and Turkey, on the back of stronger than expected recoveries at the end of 2020 and early 2021. the emergence of a major new pandemic wave in India during spring 2021 is, however, expected to cause an economic contraction in Q2, leading to a significant forecast downgrade.

What’s Happening in Cannabis: Q2

North America: regulatory updates
Latin America: regulatory updates
Europe: regulatory updates (1/2)
Europe: regulatory updates (2/2)
Asia Pacific: regulatory updates
Rest of the World: regulatory updates
Prevalence updates
Market and product updates (1/3)
Market and product updates (2/3)
Market and product updates (3/3)
New product developments and innovations (1/3)
New product developments and innovations (2/3)
New product developments and innovations (3/3)
Illicit trade updates
Canopy Growth reports strong growth in 2021
Tilray and Aphria merger set to create a major holding in cannabis
22nd Century: further investment in cannabis
The latest Euromonitor International macroeconomic forecasts (1)
The latest Euromonitor International macroeconomic forecasts (2)
The latest Euromonitor International macroeconomic forecasts (3)
Global risks map
What to expect Q3 (1/2)
What to expect Q3 (2/2)
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