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, 2020After 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.
