AEG’s AndCan®Index March 2020 Release: December 2019 demand closes the year up from November
- 2019 closed with a 1.4% increase in monthly demand for legal U.S. cannabis products.
- Year-over-year demand growth continues at 15.9%.
- December’s demand continued the solid upward trend for most of 2019.
FOR IMMEDIATE RELEASE
EAST LANSING, MI—March 5, 2020—According to Anderson Economic Group’s monthly AndCan®Index, demand for legal cannabis products in the United States continued a steady climb through December to close 2019 on a strong note. The Index is produced each month by AEG’s experts, who closely monitor all 50 states to measure trends in the recreational and medicinal marijuana markets. AEG developed the AndCan®Index benchmarks when the company first began assessing the market in 2015.
2019’s monthly trends moved consistently upward, with the exception of some slight softening in August and September. Year-over-year growth for December was at 15.9%.
Andrew Miller, one of Anderson Economic Group’s analysts for this market, believes demand for legal cannabis will continue to grow steadily in 2020. “We do not expect to see any significant fluctuation in demand at this time,” says Miller, “although the recent opening of recreational cannabis markets in Illinois and Michigan will contribute to growth in demand as those markets mature.”
Anderson Economic Group has published the AndCan®Index on a monthly basis since June, 2017. The methodology behind this reliable assessment of the U.S. legal cannabis market is described in Patrick L. Anderson’s “Blue smoke and seers: measuring latent demand for cannabis products in a partially criminalize market,” currently available online in the journal Business Economics.
Both Mr. Anderson and Mr. Miller are available for comment and further analysis by contacting Anderson Economic Group’s East Lansing offices at 517.333.6984.
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 National Association of Business Economists recently recognized the superior quality of this work by awarding Patrick L. Anderson a 2019 “Best Contributed Paper” award for the manuscript “Blue Smoke and Seers: Measuring Latent Demand for Cannabis Products in a Partially Criminalized Market.” This paper, now available online in the journal Business Economics, documents the methodology and challenges faced in development of the AndCan®Index.
The AndCan®Index builds upon:
- Over 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 award-winning technical papers and 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 the core values of professionalism, integrity, and expertise.
AEG has offices in East Lansing, Michigan and Chicago, Illinois.
CONTACT: Lisa Wootton Booth
AEG—East Lansing, Michigan
LWBooth (at) AndersonEconomicGroup.com
Members of the media are invited to request early (24 hr) access to these monthly releases by contacting lwbooth (at) andersoneconomicgroup.com. Requests will be evaluated on a case-by-case basis.