Nielsen Holdings Plc has formed a strategic partnership with cannabis analytics firm Headset to provide packaged goods companies with insights into the U.S. cannabis market. The collaboration builds on Nielsen's 2018 acquisition of Cannabiz Consumer Group, which specializes in tracking consumer behavior related to marijuana legalization.
The companies plan to publish a comprehensive analysis of the U.S. cannabis market's evolution from its early stages through 2018. They also intend to develop market analysis tools for Canada, which became the first industrialized nation to legalize recreational cannabis in 2018.
The partnership comes as major corporations increasingly seek opportunities in the rapidly expanding cannabis sector. In 2018, Altria Group Inc invested $1.8 billion in cannabis company Cronos Group Inc, while Constellation Brands announced a $4 billion investment in Canadian cannabis producer Canopy Growth.
A 2014 photo shows marijuana plants displayed at a California market, highlighting the industry's long-standing presence before widespread legalization efforts.
