The cannabis industry has seen stable, consistent growth across the country over the last decade as more states legalize medical and adult-use cannabis. Today, approximately 70% of the U.S. population lives in a state where medical cannabis is legal, and over 40% of Americans live in a state with legal adult-use cannabis. Since 2015, clients have relied on Anderson Economic Group to estimate consumer demand for cannabis and determine the impacts of market reforms and taxation.
Anderson Economic Group is a leading consulting firm in the cannabis industry. Our consultants have tracked and forecast demand for cannabis in all 50 states since 2015 using a rigorous, award-winning methodology. We have helped public and private sector clients across the country to understand the impacts of legalization, taxation, and regulatory reforms on demand for medicinal and adult-use cannabis products.
Economics of the Michigan Cannabis Industry: Market Structure, Size, and Growth
Michigan Cannabis Manufacturers Association, June 2021
Conducted a thorough review of the history and structure of Michigan’s cannabis market. Constructed customized cannabis demand model to estimate the size of the Michigan cannabis market. Estimates quantified dollar value of market segments 2019 and 2020, including retail sales, medical caregiver transactions, and other licit and illicit transactions.
Market Study for Cannabis Products in Michigan and Illinois
Reviewed key regulatory aspects of the cannabis market in Michigan and Illinois, as well as locations of medical and adult-use cannabis stores relative to where consumers live, and data on frequency of use, quantity consumed, retail store sales, and counts of registered medical patients in each state. Constructed a customized market size model to quantified the total value of cannabis consumed through retail and non-retail channels in each state since 2010.
Other cannabis industry publications from our team include:
- Anderson Economic Group Cannabis Dashboard (coming soon)
- Blue smoke and seers: measuring latent demand for cannabis products in a partially criminalized market, 2020.
- Tax Note: Tax Revenues from Legalizing Recreational Marijuana Under Michigan’s Proposal 2018-1, 2018.
- The Market for Legal Cannabis Products in the United States, 2015 and 2016.
- Valuation, Risk, and Damages in an Emerging Legal Marijuana Products Industry: Early Evidence and Sober Projections, presented at the National Association of Forensic Economics, 2015.
Our cannabis market experts
- Michigan marijuana retailers spread across Michigan, room for expansion remains, August 2021
- AEG Cannabis Market Expertise Featured on Chicago’s WTTW, August 2021
- Illinois consumer access to cannabis on the rise, but choices still limited, July, 2021
- Recreational Cannabis: Not the Immediate Fiscal Boost States Hope For, September, 2020
- Panic-buying, pot delivery, and social distancing: What’s next for cannabis during the COVID-19 crisis?, April, 2020
The AndCan® Index quantifies consumer demand for legal cannabis products for all 50 states in the United States. The index has been produced by Anderson Economic Group since 2017, using a rigorous methodology based on fundamentals of consumer demand. The index estimates demand in states (and portions of states) that have not yet legalized marijuana for medical or recreational use, as well as those in which some such sales are legal.
AEG experts are currently working on a third benchmark of the AndCan® Index, which will include data from several states that have recently legalized cannabis.
Our most current data, released in August 2021 for data through May 2021, can be found below. Earlier AndCan® releases can be accessed for:
Anderson Economic Group
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