Industry Expertise
Cannabis Market
Clients have relied on Anderson Economic Group to estimate consumer demand for legal cannabis products and to determine the impacts of market reforms and taxation since 2015.
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.
Cannabis Project Spotlight
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
June, 2021
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.
AEG’s Cannabis Dashboard
Cannabis market experts
Mr. Patrick L. Anderson founded Anderson Economic Group in 1996, and currently serves as the company’s principal and chief executive officer. Anderson Economic Group is one of the most recognized boutique consulting firms in the United States, and has been a consultant for states such as Michigan, Kentucky, North Carolina, Wisconsin and Ohio; the Province […]
Tyler Theile is Anderson Economic Group’s chief operating officer. She also serves as director of AEG’s public policy and economic analysis practice area. An expert in economic impact and benchmarking analysis, Ms. Theile has directed projects for universities, U.S. states, trade associations and companies in the automotive, real-estate, housing, alcoholic beverage, and other industries. Publications […]
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.
The 2022 benchmark uses the latest data on demand in emerging markets.
Most Americans now live in a state with legal medical cannabis. Thirty-three states have functioning medical cannabis markets, and three more have legalized medical cannabis but not yet begun legal sales. A smaller but still substantial number of Americans live in a legal recreational cannabis state. Twelve states have functioning recreational cannabis markets, and six more have legalized recreational cannabis but not yet begun legal sales.
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Other cannabis industry publications from our team include:
- 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.
Anderson Economic Group Consultants are real people analyzing real world data.
We work one on one with you to identify unique challenges and apply industry expertise to solve your most complex business problems.