Marijuana Business Factbook 2019

Marijuana Business Factbook 2019 Chapter 2 | State-By-State: Legal Overview, Market Data and Outlook 92 © 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. SUMMARY What to watch in 2020 Cannabis sales in Maryland exceeded estimates in 2019, surpassing $250 million, and sales and patient numbers are expected to continue growing throughout 2020. The state opened another round of applications for cultivation and processing licenses in March to keep pace with growth. These licenses―which had been slated to be issued in September―have been put on hold as the state investigates whether the review process was fair and the information in the highest-scoring applications was accurate. These new licenses were created as an attempt to boost racial and gender diversity in Maryland’s MMJ industry, something the program has wrestled with since its inception. Marijuana Business Opportunity Rank for 2020 A- Most of Maryland’s allotted program licenses have been preapproved or are already active. Thus, business opportunities are limited for those looking to enter the market, especially those seeking licenses to dispense. For existing businesses, the rapidly growing patient pool and recent introduction of edible MMJ products into the market will continue boosting revenue. However, the rapidly growing MMJ market in Maryland should provide more opportunities for ancillary businesses, such as security firms, packagers, accountants and lawyers. MARYLAND Medical continued