If looked at in the context of cannabis legalization, the world map looks nothing like it did just two decades ago. North America, which once led the war on drugs, now has become the biggest cannabis market in the world, dwarfing its competitors.

North America has emerged as the epicenter of the global cannabis market. The United States and Canada have spearheaded the charge towards legalization, unlocking a vast and lucrative industry. Canada made recreational cannabis legal nationwide in 2018, leading to massive job growth in the industry almost immediately.

In the U.S., individual states have taken the lead, with recreational cannabis legal in several, including California, Colorado, and Washington.

California is the Cannabis Capital

As with so many other areas of business and culture, California leads the U.S. and the world when it comes to cannabis. It is by far the biggest largest cannabis market on the planet. Often hailed as the cannabis capital of the world, the Golden State boasts a robust market fueled by a combination of its sizable population and a long-established cannabis culture.

California has set the stage for other regions, with its market projected to reach staggering heights in the coming years. According to estimates from the MJBiz Factbook, the state will bring in up $5.9 billion in legal recreational and medical marijuana sales in 2023.

While the U.S. has emerged as the legal cannabis leader, helping North America become the biggest cannabis market in the world, Canada also is a big factor in boosting the continent’s legal cannabis market. Canada became the first G7 nation to fully legalize recreational cannabis in 2018. The move positioned the country as a global trailblazer, with a flourishing industry that encompasses cultivation, distribution and consumption.

More recently, Mexico decriminalized recreational cannabis and set the stage for a potentially colossal market, although the movement has hit snags in recent years.

Europe’s Stance on Cannabis is Shifting

While North America dominates the headlines, Europe is quietly undergoing its own cannabis revolution. Several European countries have embraced medicinal cannabis, and a few, including the Netherlands and Portugal, have adopted progressive policies towards recreational use.

Germany may become the first large European company to legalize recreational cannabis, although the country’s leaders have pulled back on the idea in the past year. At this point, it looks like Germany might lean more toward decriminalization rather than legalization and establishing a cannabis market.

Things Moving Slower in South America, Africa and Asia

South America is fast becoming a player in the global cannabis market, driven by shifting attitudes and legislative changes. Uruguay blazed a trail in 2013 by becoming the first country in the world to fully legalize cannabis.

While the cannabis market in Asia remains largely untapped due to stringent drug laws, there are signs of a gradual shift. Thailand has made strides in cannabis reform. As attitudes evolve and the potential economic benefits become more apparent, Asia may witness a transformation in its approach to cannabis.

Africa is emerging as a key player in the global cannabis market. Lesotho became the first African nation to legalize cannabis cultivation for medicinal and research purposes, opening the door for other countries to explore the economic potential of this versatile plant.

It’s clear that North America, led by the United States and Canada, currently holds the crown for the largest legal cannabis market. However, the tides are shifting, and regions like Europe, South America, Asia, and Africa are poised to reshape the landscape in the years to come.