New data about trends, use and market trajectories is rapidly flooding in.
Overall, the legal marijuana business grew by 74% and easily took the top spot for fastest growing industry in the United States last year.
Both Oregon and Alaska’s new markets will continue to expand sales organically and on a statistically strategic scale over the coming year as will markets particularly in the Midwest and North East that continue to expand and come online.
According to the latest National Survey on Drug Use and Health, it is the tiny state of Rhode Island on the East Coast in fact, that can already claim the highest number of cannabis users per capita.
In Washington State, marijuana is the state’s most valuable cash crop – after timber. There are even indications that marijuana may become the state of Nevada’s most valuable crop after recreational legalization takes place within the next two years.
California however, still enjoys the distinction of largest market in America, despite failing still to legalize a functional recreational market. Sales recorded in state were $1.127 billion last year. Colorado came in second ($809 million), Washington State third ($316.2 million) and Arizona came in fourth ($65.8 million).
The Colorado market is by far the country’s most developed marijuana market in terms of analysis of data as well as the wealth of data available. The vast majority of marijuana in state is used for medical purposes. 29.9% of the heaviest users in the state accounted for 87% of consumption – and of these it is safe to assume the vast majority are medical users. The most common ailment that medical marijuana is prescribed for in Colorado is chronic pain.
Over 90% of recreational marijuana in ski towns in particular, is sold to tourists.
In terms of start up activity, California also still leads the way and is expected to for some time with a new green crop of ganjapreneurs continuing to make headlines this spring. Colorado also seems destined to support a high level of green start up activity. Venture capitalists are even starting boot camps in the state.
Support for legalization is also continuing to rapidly outpace opposition, which will no doubt also show up in consumer and other industry data in the next few years. Opinions have changed drastically since 1969, the first time Gallup asked a question about legalization. At the time just 12% of Americans supported it. The latest national polls this year show that support for at least medical legalization is well over 50% of the population and continuing to increase.
47% of Americans admit to smoking marijuana at least once.