Marijuana Business Factbook 2019

20 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. Certain medical markets, such as Florida, Maryland, Ohio, Oklahoma and Pennsylvania, are entering ― or are already experiencing ― periods of extreme growth, but the largest medical markets in the nation are seeing patient growth slow ― or, in California’s case, decline ― as the recreational movement takes hold. While the recreational side of the industry is primed for significant growth over the long term as new markets come online and more states legalize adult-use cannabis, the vast majority of sales in the next 12 months will come in hypercompetitive and/or mature markets such as California, Colorado, Oregon and Washington state. Because of the nature of those markets, the success of one marijuana business will increasingly come at the expense of another. The marijuana industry is one of the fastest-growing sectors in the United States and offers significant opportunity to risk-amenable entrepreneurs willing to navigate a complex and constantly changing business environment. But, like any other industry, it will produce winners and losers ― and would-be entrepreneurs eyeing the marijuana space for their next play would do well to take a rational and measured approach to evaluating the market’s prospects. CHART 1.16: Portion Of Cannabis Companies Planning To Expand Into New Markets Within The Next 12 Months Source: 2019 Marijuana Business Factbook © 2019 Marijuana Business Daily, a division of Anne Holland Ventures Inc. All rights reserved. Portion Of Cannabis Companies Planning To Expand Into New Markets Within The Next 12 Months Ancillary Technology & Products Companies Cannabis Pro duct Manufac turers Ancillary Services Firms Producers/P.. Vertically Integrated Retailers Wholesale Cultivators Stand-Alone Retailers 95% 81% 74% 51% 33% 30% 17% Both 81% Medical 9% Recreational 10% Market Targeted In The Expansion Breakdown By Sector Cannabis Product Man facturers Producers/ Processors Average Across Sectors: 58%