- Monthly demand for legal cannabis products in the U.S. increased 2.6% in May.
- Year-over-year, cannabis product demand for May is up 20.6%.
- After April’s slightly softer growth, demand has re-accelerated.
EAST LANSING, MI—August 2, 2019—The most recent monthly AndCan IndexTM indicates that demand for legal cannabis products in the United States rose by 2.6% in May 2019. Anderson Economic Group’s AndCan Index closely monitors ongoing trends for these products in all 50 U.S. states.
Consumer demand for cannabis products has remained solid this year. Year-over-year, cannabis demand is up significantly at 20.6%.
Kenan Cosguner, the consultant who oversees the AndCan Index for AEG, indicates that these figures align with the growth pattern AEG has observed since the company’s comprehensive cannabis market assessments began in 2015. While there have been occasional dips in demand, the pattern has always corrected in an upward direction almost immediately. “Once again, we see a strong and steady growth trend in the industry,” reports Cosguner, who also observes that the growth trajectory has remained consistent for the previous 17 months.
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; and
- 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.
About Anderson Economic Group
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 its core values of professionalism, integrity, and expertise.
AEG has offices in East Lansing, Michigan and Chicago, Illinois.
AEG—East Lansing, Michigan