MJBizMag May-June 2021 - 72

Get your copy at mjbizdaily.com/factbook
The full effect
of that green
wave likely
won't be seen
until at least
2022.
MOMENTUM BUILDS
While the coronavirus was the big
headline for everyone in 2020, cannabis
industry participants had reasons to
cheer last year. The barriers to a national
industry are starting to fall.
Since November 2020, nine states
approved new marijuana markets-and
one of them has already launched.
Once those markets come online,
eight of the 10 most-populous states
in the U.S. will have legal cannabis
sectors in place-and half of those
include adult use.
We still must wait for that momentum
to truly reach the national level, but that
eventuality appears to be nearer than
ever before.
The full effect of that green wave
likely won't be seen until at least 2022,
as new markets work out the details
for how to support a legal cannabis
industry. Even so, nationwide revenue
is expected to increase roughly 32%
over 2021.
The long-term outlook for the recreational
side of the industry is more
bullish than for medical, primarily
because there are more markets that
haven't legalized adult use, but the
MMJ industry got a boost in 2020
thanks to the coronavirus pandemic.
State registries experienced an uptick
in patient counts-and, as a result,
in medical cannabis sales-especially
in Massachusetts, where recreational
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ANNUAL MARIJUANA BUSINESS
FACTBOOK
siness Factbook is an
2021 | 9th Edition
n a state-by-state basis and
and investing.
financial benchmarks,
tes, employment and
nderstand the forces shaping
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MJBizMag May-June 2021

Table of Contents for the Digital Edition of MJBizMag May-June 2021

MJBizMag May-June 2021 - 1
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