Marijuana Business Factbook 2019

2 Marijuana Business Factbook 2019 Chapter 1 | National Trends © Copyright 2020, Marijuana Business Daily , a division of Anne Holland Ventures Inc. You may NOT copy this Factbook, or make public the data and facts contained herein, in part or in whole. For more copies or editorial permissions, contact CustomerService@MJBizDaily.com or call (720) 213-5992, ext. 1. CHART 1.01: U.S. Cannabis Retail Sales Estimates: 2013-2023 Source: 2019 Marijuana Business Factbook © 2019 Marijuana Business Daily, a division of Anne Holland Ventures Inc. All rights reserved. U.S. Cannabis Retail Sales Es�mates: 2013 - 2023 (In Billions Of U.S. Dollars) 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 $0B $5B $10B $15B $20B $25B $30B Total Retail Sales Recrea�onal Medical $1.6 $1.6-$2.0 $2.0-$2.4 $2.2-$2.7 $3.1-$3.7 $3.0-$3.5 $4.3-$5.2 $5.6-$6.8 $6.5-$7.9 $7.2-$8.8 $7.6-$9.3 $0.4 $1.0 $1.8 $2.7-$2.8 $4.8-$5.2 $6.5-$7.5 $9.4-$11.0 $12.4-$14.4 $15.5-$18.3 $18.1-$21.5 $7.8-$8.7 Total $10.8-$12.7 Total $15.0-$17.8 Total $18.9-$22.3 Total $22.7-$27.1 Total $25.7-$30.8 Total $5.8-$6.6 Total $4.0-$4.5 Total $3.0-$3.4 Total $2.0-$2.4 Total $1.6 Total Retail marijuana sales in the United States are on pace to eclipse $12 billion by the end of 2019, an increase of 42% over 2018. Recreational sales surpassed medical sales for the first time last year, and while long-term retail sales growth will come primarily from recreational markets, this year medical sales are projected to increase at the same rate as recreational. In 2019, medical marijuana sales will get major boosts from the new markets that have come online, namely Florida, Maryland, Ohio, Oklahoma and Pennsylvania. In each of these states, strong patient demand, broad lists of qualifying MMJ conditions and adequate access to dispensaries have propelled sales beyond initial expectations. Florida is the notable standout here, as annual MMJ sales in the state could reach $1.5 billion in just a few years ― or nearly 20% of total expected MMJ sales in the United States by 2023. Over the longer term, however, growth in the medical marijuana sector will slow significantly. Many large markets, such as Arizona and New Mexico, are reaching maturity, with year-over-year growth in the number of MMJ patients waning. Both states also have taken steps to legalize recreational cannabis ― a move that will likely cause precipitous declines in MMJ sales. Furthermore, only a handful of states remain where MMJ is not legal, and many of those ― including South Dakota, Wisconsin and Wyoming ― have expressed little to no interest in changing that. As such, the potential for new medical marijuana states coming online and boosting overall MMJ sales is beginning to dry up.