Almost every industry had a bad year in 2022. But the cannabis industry had it even worse. Thanks to a lack of progress in regulatory reforms and higher competition, cannabis sales in the U.S. didn't grow in 2022 as they did during the pandemic.

On the plus side, marijuana users continue to regard cannabis as a consumer staple product, spending money on it despite rising inflation. According to MarketsandMarkets, the global marijuana market is expected to grow at a compound annual growth rate (CAGR) of 24.3% to $82 billion by 2027.

Let's take a look at what's going on in the cannabis industry this year and which cannabis stocks may benefit from this opportunity.

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Source Fool.com