fbpx
QQQ
+ 0.56
283.62
+ 0.2%
DIA
-0.40
284.13
-0.14%
SPY
+ 0.98
343.66
+ 0.28%
TLT
+ 0.96
156.09
+ 0.61%
GLD
-0.17
179.00
-0.1%

Report: Cannabis Product Demand Rose 20% In The Last Year

March 8, 2019 1:53 pm
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More

Earlier this week, Anderson Economic Group released its 2019 benchmarked AndCan Index, which uses a new, improved methodology. The 2019 index shows that consumer demand for cannabis products has been increasing much faster than previously recognized.

The demand for marijuana products in the U.S. surged by 1.9 percent in December, according to the report. And over the past year, cannabis product demand rose by 20 percent.

The Cannabis Capital Conference is coming back to Toronto! Click here to learn how you can join Tim Seymour, Jon Najarian, Alan Brochstein and many others.

This year’s benchmarked AndCan Index provides a more accurate representation of the growing demand for cannabis products, said AEG senior analyst Brandon Betz, who oversees the AndCan Index.

“We have improved the index to take into account growth in states that have legalized medical and recreational marijuana but that do not report their data publicly. We expect to see growth in cannabis demand in the improved index, as new and existing cannabis markets continue to demonstrate strong growth.” 

The index is recording significant growth in demand for cannabis products in the U.S., Betz said. 

"Over the past several months, the growth rate has been increasing. This is because many new markets are maturing; regulatory uncertainty is declining; and marijuana markets are becoming more robust."

Medical patients are having an easier time of accessing medication and recreational users are finding it easier to purchase legal weed, the analyst said. 

"Overall, this is a positive indicator for the industry.”

Related Links:

A Chat With Life On Earth's C-Suite: CBD Products, Uplisting Plans And More

California Marks 1 Year Of Recreational Marijuana: How Much Cannabis Was Sold

Photo by Javier Hasse.


Related Articles

Halloween-Themed Pipes, Bongs And Rigs For A Spooky Cannabis Smoke Session

This article was originally published on Weedmaps, and appears here with permission. read more

The Week In Cannabis: Stocks Outperform, Michigan Shapes Up As New Leader, Celeb Brands Get Hot

Cannabis stocks traded up in a relatively slow news week, where celebrity brands grabbed headlines. read more

How To Smoke Weed: 26 Ways To Consume Cannabis

This article was originally published on WeedWeek, and appears here with permission. read more

Precision Extraction Solutions Is On The Hunt For Capital

Precision Extraction Solutions is hoping to raise at least $10 million in venture capital.  That's according to the Troy, Michigan-based company's founder and CTO Nick Tennant. read more

Chelsea Handler Launches Kit Featuring Her Favorite Cannabis Products

Timed to coincide with the premiere of Chelsea Handler’s stand up special, “Chelsea Handler: Evolution,” Sweet Flower has joined forced with the comedian to introduce the Evolution Kit, a curated set featuring Chelsea’s favorite cannabis products. read more