- June’s monthly demand for legal cannabis products was up 1.7%.
- U.S. product demand year-over-year is 20.0% higher.
- Demand was a little softened after a strong showing in May.
FOR IMMEDIATE RELEASE
EAST LANSING, MI—September 3, 2019—AEG’s monthly AndCan IndexTM confirms a further increase in demand for legal cannabis products in the United States, ticking up another 1.7% in June. Anderson Economic Group produces the monthly measurement to observe market trends for these products across all 50 states.
Pursuing a steady upward climb, legal cannabis products have shown a substantial increase in consumer demand throughout 2019. Year-over-year figures sit right around +20.0%. Furthermore, these numbers continue a much longer-term upward trend.
According to AEG’s Kenan Cosguner, June’s demand numbers follow the historic trends noted by Anderson Economic Group since it began assessing the market in 2015. “While we have sometimes seen a very slight pause in demand,” says Cosguner, “month after month the industry ultimately continues its impressive growth trajectory.”
About the AndCan Index
Launched in June 2017, the AndCan Index reflects observed demand from U.S. states that have legalized cannabis, and estimates latent demand in states where data on observed demand are unavailable.
The AndCan Index builds upon:
- Over four years of comprehensive coverage of the U.S. legal cannabis market and assessments of demand by Anderson Economic Group;
- A rigorous methodology that has been presented in technical papers at two professional economics conferences; and
- More than two decades of business consulting experience worldwide.
Comments from other professional economists have been incorporated into the AndCan Index, as has additional research by Anderson Economic Group consultants.
In March 2019, Anderson Economic Group released the 2019 benchmarked AndCan Index, which included a number of methodological and data improvements. They 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 the core values of professionalism, integrity, and expertise.
AEG has offices in East Lansing, Michigan and Chicago, Illinois.
Lisa Wootton Booth
AEG—East Lansing, Michigan