- The demand for legal cannabis products in the U.S. increased 1.9% in December.
- Cannabis product demand is up 20.0% from December 2017.
- This month, we released the 2019 benchmarked version of the AndCan Index.
FOR IMMEDIATE RELEASE
EAST LANSING, MI—March 4, 2019—The demand for legal cannabis products in the United States rose by 1.9% in December 2018, according to the monthly AndCan Index, which closely monitors demand across every U.S. state.
While the 2017 version of the AndCan Index reported declining growth over the past five months, the newly benchmarked index reports rapid growth over the same time period. The 2019 benchmarked AndCan Index shows that consumer demand for cannabis products increased 9.3% faster since November 2016 than previously recognized. Growth in the improved index outpaced that of the 2017 index for the last seven months.
“The 2019 benchmarked AndCan Index gives a more accurate representation of growth in 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 publically. We expect to see growth in cannabis demand in the improved index, as new and existing cannabis markets continue to demonstrate strong growth.”
The 2019 benchmarked AndCan Index includes a number of methodological and data improvements, including:
- The introduction of an initial value/trajectory method to estimate the number of medical patients and average recreational sales per capita for states that have not legalized medical or recreational marijuana, as well as for states that have legalized either but do not report their data publically.
- An improvement by which we utilize recreational sales data to estimate medical marijuana demand for states with a legalized medical marijuana sales market.
- The incorporation of actual state sales and medical patient data for additional states.
For a detailed overview of the methodological and data improvements included in the 2019 benchmarked AndCan Index, see The AndCan™ Index: 2019 Benchmark Revision, released on March 4, 2019 accompanying this release.
For an embeddable, interactive visualization of this data, please visit: www.AndersonEconomicGroup.com
Launched in June 2017, the AndCan Index reflects observed demand from states that have legalized cannabis and estimates for latent demand for states in which data on observed demand are unavailable. It builds from three years of comprehensive coverage of the U.S. cannabis market and assessments of demand by Anderson Economic Group; a rigorous methodology that has been presented in technical papers at two conferences of professional economists; and more than two decades of business consulting experience worldwide. Comments from other economists from these conferences, as well as additional research by Anderson Economic Group consultants, have been incorporated into the AndCan Index.
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.
Lisa Wootton Booth
AEG—East Lansing, Michigan