Marijuana Business Magazine January 2020

Marijuana Business Magazine | January 2020 8 Cannabis bythe Numbers | Maggie Cowee Markets to Watch in 2020 W ith sales expectations nearing $19 billion in the United States alone, 2020 is shaping up to be another blockbuster year for the cannabis industry. U.S. marijuana sales growth is expected to be spurred by new states coming online, including recreational markets in Illinois and Michigan and medical sales in Missouri and Utah. Increased stability in states such as California, Massachusetts and Pennsylvania will bolster growth as those markets continue to mature. Expectations are high for hemp-based CBD sales growth in the United States, too, driven by hot consumer demand and the measure of certainty provided by the U.S. Department of Agriculture’s recently approved and long-awaited interim hemp rules. Canadian cannabis sales—now featuring infused products—are anticipated to generate billions of dollars in sales annually. And legal markets continue to develop across the globe, from small players that include North Macedonia to potential giants such as Mexico. Here are some marijuana numbers to watch in 2020: $2.5 billion Marijuana Business Daily ’s estimate for annual recreational marijuana sales in Illinois once the market has matured. Illinois recreational sales were scheduled to begin Jan. 1. Source: Marijuana Business Daily 80% Proportion of Michigan communities that chose to opt out of recreational marijuana production and sales. As of mid-December 2019, 1.9% of communities had formally opted in. Michigan rec sales began Dec. 1, 2019. $2.1 billion The U.S. estimate for 2020 legal CBD sales are expected to be in the range of $1.9 billion to $2.3 billion, according to the Hemp & CBD Industry Factbook. The figure is expected to be bolstered by consumer demand and increased retail availability of CBD. Source: Hemp Industry Daily $199 99 2019 | 2nd Edition ANNUAL HEMP & CBD INDUSTRY FACTBOOK Thedeinitivebenchmark analysiso Hemp& CBDmarkets in the UnitedStates 1.5% - 2% Expected medical marijuana patient count in Utah as a percentage of the total state population in the fifth year of the program, which is anticipated to start small and grow slowly. Utah medical marijuana sales could begin as soon as March 1. Source: Marijuana Business Daily Source: Michigan Marijuana Regulatory Agency