Although roughly half of New York’s municipal governments opted out of permitting recreational cannabis stores before a Dec. 31 deadline, those opt-outs aren’t set in stone.
Organigram is among a handful of large Canadian cannabis producers that managed to take more overall share of Canada’s cannabis market in 2021 via nondilutive organic sales growth.
How did the Moncton, New Brunswick-based licensed producer do it?
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.
New Brunswick cannabis producer Organigram’s loss narrowed to 1.3 million Canadian dollars ($1 million) as adult-use sales soared over 70% compared to the comparable year-ago period, according to the company’s first-quarter financial results released Tuesday.
Washington state’s adult-use marijuana industry directly employed 11,330 workers and generated more than $1.4 billion in revenue in 2020, according to a first-ever economic analysis of the market.
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.
Medical cannabis dispensaries in Arkansas sold a total of $264.9 million worth of MMJ in 2021, according to data released by the state’s Department of Finance and Administration (DFA).