- Demand for legal cannabis products in the U.S. increased 1.3% in February.
- Cannabis product demand is up 20.5% from February 2018.
- The AndCan Index is constructed using calculations for all 50 states.
FOR IMMEDIATE RELEASE
EAST LANSING, MI—May 1, 2019—According to the monthly AndCan Index,™ demand for legal cannabis products in the United States rose by 1.3% in February 2019. The AndCan Index closely monitors demand across every U.S. state.
Consumer demand for cannabis products has experienced sustained growth over the last year. In 2018, one recreational market and three medical markets came online. Three recreational markets (Vermont, Michigan, and Maine) have their first legally-operated dispensaries pending. Meanwhile, patients in Arkansas, Louisiana, Missouri, North Dakota, and Pennsylvania are anticipating the opening of medical dispensaries this year. We expect more growth as individuals and patients in these states gain access to cannabis products in the coming months.
A new development that may impact future demand in Michigan—On April 30, the Governor of Michigan announced that the newly created Michigan Marijuana Regulatory Agency will be prepared to accept business applications for recreational marijuana in the fall. This is three months earlier than previously anticipated.
Reported Growth: February’s growth in U.S. demand for cannabis products outpaced that of the previous month.
About the AndCan Index
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. The AndCan Index has incorporated other economists’ comments from these conferences, along with additional research by Anderson Economic Group consultants.
In March, Anderson Economic Group released the 2019 benchmarked AndCan Index, which included a number of methodological and data improvements. We 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