After Six Years, Colorado’s Legal Cannabis Market Proves Demand, Reflects Maturing Preferences
May 10, 2020Lessons from the Colorado Recreational Market’s Sixth Birthday (Part II)
May 17, 2020
- Colorado’s cannabis industry has grown and evolved dramatically since sales were legalized in 2014.
- New Frontier Data estimates that more than 80% of the state’s cannabis consumers have converted to the legal market, with some 800,000 frequent consumers now engaged in either medical or adult-use programs.
- Throughout six years, legal cannabis has generated $7.8 billion in sales (70% from adult-use sales), not including revenue along the supply chain (e.g., producers and processors) or in ancillary, supporting sectors.
- Those revenues underscore the industry’s economic value for the state.
- Among the most notable market trends has been a shift from flower to non-flower products: When legalization began, flower dominated sales, but now accounts for less than half of the market.
- The popularity of value-added products marks a critical trend in which flower will remain the leading category while accounting for a continually decreasing share of the total market.
