The demand for legal marijuana products is still on the rise in America, according to a closely watched index report released earlier this week. The increased demand in July, the latest month in which data is available, jumped 1.6 percent — marking the third consecutive month for industry growth.
The market data is tracked by the AndCan Index, which monitors demand across the nation. AndCan Index data shows that since the start of 2015, the demand for legal cannabis products in the U.S. has grown by 16.3%. Since last November’s election, when four states voted to legalize recreational use of marijuana, overall U.S. demand has increased by 6.8%.
“This is only the fourth time since the start of 2015 where we’ve seen at least three consecutive months of growth in demand for cannabis products in the U.S.,” said AEG consultant Peter J. Schwartz, who oversees the AndCan Index as well as the firm’s report on The Market for Legal Cannabis Products in the 50 United States.