The boom in the cannabis market is expanding rapidly. The data in acceptance and consumption will likely only increase year over year. But some of the markets in the country are seeing record highs and growth. Here are some of the fastest growing cannabis markets in the U.S., and the results may shock you!
It’s worth noting that these results are subject to change, and the demand continues to increase nationally.
The Buckeye State has only been in the market for a few years. But once they entered, they hit the ground running. The state’s medicinal cannabis access is semi-restrictive, but that hasn’t impacted the numbers. They see triple-digit growth year over year in their medical industry, and if they kick things off for recreational purposes, surely these numbers will soar.
This might be a shocker for many, as Oklahoma is more lowkey. But their medicinal market sees a lot of activity and produces more medical cards than almost anywhere else in the country, per capita. It boils down to roughly 1 in 20.
Massachusetts was one of the first states on the East Coast to legalize the recreational use of cannabis. Prior to this, it was only contributing a portion of the sales to the medicinal industry. Since joining forces and expanding their market, they launched skyrocketing growth year over year and hit one of the top markets in the nation for cannabis.
The Pennsylvania market also reports record-breaking numbers in medicinal cannabis, and due to the staggering highs, it helps contribute to the state’s overall employment rates. The cannabis market helps support roughly 8,000 jobs and has created full-time opportunities.
It might not be a surprise to see Florida on the list of fastest growing cannabis markets in the U.S. The state is home to some of the most popular vacation destinations in the country and has a wide variety of constituents. The state supports both medicinal and recreational use of cannabis and puts up top-notch growth year over year, competing with canna-vets like Washington and Oregon.
So, how does this pertain to you and your business? When we understand the market and where sales are growing the most, we can identify the best opportunities for your niche. If you’re in one of these hot locations and ready to expand, reach out to Beaker & Wrench today! We offer wiped film distillation equipment and supplies to meet all industry demands and follow Good Manufacturing Practices (GMP). Don’t wait to get in on a rapidly expanding industry!