- The demand for legal cannabis products in the U.S. increased by 1.2% in September.
- Cannabis product demand is up 11.8% from one year ago.
- The AndCan Index is constructed using calculations for all 50 states.
FOR IMMEDIATE RELEASE
EAST LANSING, MI—December 6, 2018—The demand for legal cannabis products in the United States increased by 1.2% in September 2018, according to the monthly AndCan Index, which closely monitors demand across every U.S. state. The increase followed a rare month in stagnant growth for the AndCan Index.
Last month Massachusetts became the seventh state to launch a commercial market for legal recreational marijuana. “Now that the recreational market in Massachusetts is online, we expect the AndCan Index to reflect further growth in consumer demand in the coming months,” said AEG consultant Traci Giroux, who oversees the AndCan Index.
AndCan Index data shows that the demand for legal cannabis products has grown by 39.2% nationwide from since the start of 2015. Since the November 2016 election, when four states—Nevada, California, Massachusetts, and Maine—voted to legalize recreational use of marijuana, overall U.S. demand has increased by 24.2%.
Rising higher: September’s increase in U.S. demand for cannabis products followed a rare month of stagnant growth in August.
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.
Editorial note: Anderson Economic Group expects to issue a benchmark revision to the AndCan Index in early 2019.
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 is headquartered in East Lansing, Michigan, and has offices in Chicago and New York City.
AEG—East Lansing, Michigan