- Monthly demand for legal cannabis products in the U.S. increased 2.1% in March.
- Cannabis product demand is up 19% from March 2018.
- This is the fourth monthly increase to top 2% in the last year.
FOR IMMEDIATE RELEASE
EAST LANSING, MI—June 3, 2019—According to the monthly AndCan Index, TM the demand for legal cannabis products in the United States rose by 2.1% in March 2019. Anderson Economic Group’s AndCan Index closely monitors demand across every U.S. state.
Consumer demand for cannabis products is ramping up this year. March marked the highest percentage growth since June 2018, and it is the fourth month in the last year to see an increase greater than 2.0%. Year-over-year, cannabis demand is up significantly at 19.0%.
Since AEG first began comprehensive assessments of this market in 2015, there have been very few, short-lived drops in demand for legal cannabis products in the U.S. This month’s indicators continue that upward trajectory. “U.S. demand for cannabis products has been increasing for 14 consecutive months,” said AEG senior analyst Brandon Betz, who oversees the AndCan Index.
Reported Growth: U.S. demand for legal cannabis products grew at a faster rate in March than in the previous month.
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.
Lisa Wootton Booth
AEG—East Lansing, Michigan