Market Overview

High Times Ahead: Continued Dramatic Growth Expected For The Legal Cannabis Industry In 2019.

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Teh legal cannabis industry is projected to continue its steady and consistent rise in 2019. Backed by growing medical sales and partnerships, the industry is poised to bring on more opportunities for investment and development. Take a look at some quick hits and the chart below:

  • As of January 1, now 33 states plus the District of Columbia (D.C.) have legalized cannabis for medicinal use, with 10 states and D.C. permitting adult use.
  • Medical-use sales are slated to begin in four states (Arkansas, Louisiana, North Dakota, and Ohio).
  • Per the November 2018 midterm elections, plans proceed for medical-use sales starting by early 2020 in Missouri and Utah, along with adult-use sales in Michigan.
  • U.S. sales of medical- and adult-use cannabis in 2019 are expected to reach $5.9 billion and $7.0 billion, respectively, up 28% (from $4.6 billion) and 21% (from $5.8 billion) from 2018.
  • In 2019, the total number of registered U.S. medical cannabis patients is projected to reach 2.4 million, up 26% from 1.9 million patients in 2018.

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Read more about our latest Cannabis News! CANNABIS HOME

Posted-In: cannabis industry New Frontier DataCannabis Earnings Fintech News Markets

 

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