Marijuana Business Factbook 2019

225 © 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. Financial & Operational Data: Retailers | Chapter 5 MJBIZDAILY.COM RETAIL OVERVIEW CHART 5.01: Retail Marijuana Market Overview: Number of Markets & Estimated Retail Sales By Year Source: 2019 Marijuana Business Factbook © 2019 Marijuana Business Daily, a division of Anne Holland Ventures Inc. All rights reserved. Retail Marijuana Market Overview: Number Of Markets & Es�mated Retail Sales By Year 18 2 25 5 37 12 Retail Sales By Market Number Of Legal Markets Medical Recrea�onal 2012 2015 2019 $1.2B - $1.3B $1.0B $3.0B - $3.4B $6.5B - $7.5B $4.3B - $5.2B Between 2015 and 2019, the number of medical markets in the U.S. increased 48% from 25 to 37, while recreational markets increased 140% from five to 12. Although there are fewer recreational markets, they are substantially larger than medical markets because the only barrier to entry for a consumer is age ― any adult 21 and older can visit a recreational marijuana retailer. In most medical markets, patients must have a qualifying condition certified by a physician who then recommends medical marijuana as a treatment. Patients must join a registry and, in some states, register with a specific dispensary. Growth in both the number of new markets and sales totals is expected to continue. Sales in existing medical and recreational states continue to increase, while discussions to legalize recreational use via the legislature have taken place in some of the nation’s most populous states, including Illinois, New Jersey and New York. Perceptions of medical and recreational cannabis use are changing, too. National polls show that more Americans are in favor of medical marijuana , and, to a lesser extent, recreational use also is becoming more acceptable. An increasing number of elected officials are supportive of state legalization efforts, while ending federal prohibition has already emerged as a talking point among early candidates for the 2020 presidential election.