fbpx
QQQ
+ 4.55
307.31
+ 1.46%
DIA
+ 1.24
306.83
+ 0.4%
SPY
+ 2.97
372.70
+ 0.79%
TLT
+ 0.49
151.33
+ 0.32%
GLD
+ 1.37
169.79
+ 0.8%

Growth In US Demand For Legal Cannabis Products Hit Pause This Summer

November 7, 2019 8:44 am
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More
Growth In US Demand For Legal Cannabis Products Hit Pause This Summer

AEG’s monthly AndCan®Index indicated a flat level of demand for legal cannabis products in the United States in August. Anderson Economic Group produces the monthly measurement to observe market trends for these products across all 50 states.

After continuing a steady upward climb through July, legal cannabis products remained flat in August 2019. However, year-over-year figures continue to demonstrate strong growth at around 18%.

AEG’s Kenan Cosguner says these softer August numbers do not reflect a change in long-term trends. He anticipates that demand will resume its steady upward climb for the remainder of 2019, continuing the historic trends recorded since Anderson Economic Group began assessing the market in 2015.

"Occasionally, we’ve seen monthly figures take a short break from the otherwise constant growth in demand," said  Cosguner. "To date, however, those interruptions have been very brief and industry growth soon continues its steady upward climb."

About the AndCan Index
Launched in June 2017, the AndCan®Index reflects observed demand from U.S. states that have legalized cannabis, and estimates latent demand in states where data on observed demand are unavailable.

The AndCan®Index builds upon:

  • Three years of comprehensive coverage of the U.S. legal cannabis market and assessments of demand by Anderson Economic Group;
  • A rigorous methodology that has been presented in technical papers at two professional economics conferences;
  • More than two decades of business consulting experience worldwide.

Comments from other professional economists have been incorporated into the AndCan®Index, as has additional research by Anderson Economic Group consultants.

In March 2019, Anderson Economic Group released the 2019 benchmarked AndCan®Index, which included a number of methodological and data improvements. They added data for a number of states that were not included in the original index, and updated the AndCan® methodology to take advantage of new data.

Since its founding in 1996, Anderson Economic Group has become one of the nation’s premier boutique consulting firms, specializing in business valuation, expert testimony, and public policy. AEG has assisted governments, universities, large corporations, and businesses across the U.S. and abroad. All of the firm’s work is based on the core values of professionalism, integrity, and expertise.

AEG has offices in East Lansing, Michigan and Chicago, Illinois.

Image by Herbal Hemp from Pixabay


Related Articles

Cannabis Stock Gainers And Losers From January 19, 2021

GAINERS: High Tide (OTCQB: HITIF) shares closed up 42.4% at $0.30 read more

Arkansas Medical Weed Sales Reach $175M In 2020, Projected To Double In 2021

Arkansas welcomed medical marijuana sales back in May 2019, only to see substantial market growth last year, with sales hitting the $175 million mark, reports Marijuana Business Daily. There was a record $1.22 million day, per Marijuana Business Factbook estimates. read more

Cannabis Movers & Shakers: Vireo Health, Flora, MJardin, Arcview, Viridian Capital Advisors

Here is a summary of the latest leadership changes within the cannabis industry. read more

Juva Life Obtains California Cultivation License For Stockton Facility

Life sciences company Juva Life Inc. (CSE: JUVA) (OTCQX: JUVAF) has obtained a state-approved cannabis cultivation license for its 30,000 square-foot facility in Stockton, California. read more

Alcanna Spins-Out Cannabis Business, Combines With YSS To Form Nova Cannabis

Alcohol and cannabis retailer Alcanna Inc. (TSX: CLIQ) (OTC: LQSIF) has agreed to spin-out its retail cannabis business into a separate company and merge it with YSS Corp. (TSX-V: YSS) (WCN: A2PMAX) (OTC: YSSCF). read more