Last year was a terrible year for the U.S. cannabis industry. The failures of state and federal politicians to make more progress in reforming cannabis laws was compounded by “the vaping crisis”.
This was another regulatory failure. Tainted black market cannabis (and tobacco) vaping products have sickened over 2,700 Americans and killed (now) 60. All because the U.S. federal government won’t legalize cannabis – and squeeze out the black market.
However, the worst of the vaping illness problem is over. And 2020 is looking like a rebound year for the U.S. cannabis industry.
Leading the way is the state of Illinois. Illinois registered nearly $20 million in cannabis sales in the first 12 days of full legalization. That projects to $600 million over the first year. And that is despite supply shortages that are causing retailers to ration sales.
Illinois is one of a few U.S. states that is basically doing everything right when it comes to full cannabis legalization.
On the other hand, cannabis sales in a number of medicinal cannabis-only states are booming. The Seed Investor already reported on Florida’s robust medicinal cannabis industry. The Sunshine State recorded over $650 million in cannabis sales in 2019.
Now figures are out for Arizona’s medical cannabis market. More big numbers.
- Arizona residents consumed over 82 tons of medicinal cannabis in 2019
- Total cannabis sales increased by 25% in 2019
- 80.84% growth in sales of “other” cannabis products (vapes, concentrates, pills, topicals, etc.)
- Cannabis edibles actually underperformed, growing by only 19.93%
Arizona’s legal cannabis industry could get a big boost if full cannabis legalization makes it onto the ballot for the 2020 election.
Global cannabis sales soared by 48% in 2019, despite the problems for legal cannabis in the United States (and Canada). This year is off to a more promising start.
Published at Wed, 29 Jan 2020 17:45:00 +0000