Colorado 2021 marijuana sales could break record despite monthly slumps
Marijuana sales in Colorado could set an annual record for 2021, even though several months fell below the previous year’s totals.
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Marijuana sales in Colorado could set an annual record for 2021, even though several months fell below the previous year’s totals.
The market for legal cannabis in the U.S. is expected to surge in the coming years, reaching more than $40 billion annually by 2025, according to the MJBizFactbook, creating huge opportunities to educate consumers on its benefits and create brands that eventually rival those found in the traditional consumer packaged goods (CPG) space.
Los Angeles-based marijuana multistate operator Viola Brands closed a $13 million equity funding round with the aim to expand into several new markets.
Las Vegas-based GB Sciences is leaving the cannabis cultivation space to pursue further interests in the biopharmaceutical industry.
California marijuana companies – already facing labor shortages, high taxes and regulatory red tape – are now contending with supply-chain gridlock, forcing many to reassess and revamp procurement strategies as margins shrink.
New Jersey selected Florida-based Metrc to provide seed-to-sale tracking for the state’s licensed cannabis program.
Emerging technologies and shifts in consumer buying habits since the coronavirus pandemic are shaking up the consumer packaged goods (CPG) sector.