Marijuana Business Factbook 2019

63 © 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. State-By-State: Legal Overview, Market Data and Outlook | Chapter 2 MJBIZDAILY.COM MARKET OVERVIEW Number of registered patients 304,445 (up from 168,981 in early 2019) Estimated 2019 MMJ sales via dispensaries $450 million-$550 million (up from $225 million-$300 million in 2018) SUMMARY What to watch in 2020 The state’s medical marijuana industry continues to thrive and stands to benefit even more from new marijuana- friendly elected officials such as Gov. Ron DeSantis and Commissioner of Agriculture and Consumer Services Nikki Fried. From December 2018 to December 2019, the number of MMJ patients in Florida grew 78%. More growth might be on the horizon as the state’s ban on smokable flower was overturned and final regulations on edibles production might soon be issued. Additionally, the state’s restrictive licensing system might change to eliminate a requirement that MMJ businesses be vertically integrated. The matter has been sent to the state Supreme Court, though no timeline has been announced for an expected decision. Marijuana Business Opportunity Rank for 2020 A Licensing of medical marijuana treatment centers is currently in flux in Florida, and removal of the requirement for businesses to be vertically integrated could significantly expand the market for new players. Florida’s program continues to thrive, with new patients joining the roster at a rapid clip. Recreational cannabis legalization will not be on the ballot in 2020, but the elimination of the ban on smokable flower has provided tremendous opportunity for medical marijuana products, as could introducing final rules for edibles.