Legal sales across the U.S. hit a record of $17.5 billion, a 46% increase from 2019. Cannabis sales last month totaled $1.6B across our 13-region report (CA, CO, NV, WA, OR, IL, MA, MI, PA, British Columbia, Alberta, Ontario, & Saskatchewan).

Colorado, which grew sales by 26% to reach $2.2 billion, and Oregon, which saw sales hit $1.1 billion, a 29% increase over 2019. Last months sales for CO & OR were $147MM and $110MM respectively.

Emerging markets like Illinois, which expanded its medical cannabis market to include adult-use sales last year, saw the largest dollar gain in 2020, rising by $784 million. IL on average sold $119 per visit across 1.3 million trips to the pot shop last month.

California, the country’s largest cannabis economy at had $427MM in sales last month, a 25% YOY increase. Customers on average purchased $68 worth of marijuana across 6.2MM transactions in California alone.

Across all U.S. adult-use markets, the number of people who consumed cannabis at the end of 2020 was greater than six months prior. Of people living in states that have legalized recreational sales, 43% use cannabis, up from 38%. In Colorado, where market penetration is greatest in the country, 48% of Coloradans imbibe.

Nielsen says three things contributed to the industry’s growth last year: the Covid-19 pandemic (many states deemed dispensaries “essential businesses” during lockdown); more customers entered mature markets like California, Colorado and Oregon; and states like Illinois and Arizona have created new adult-use markets.

Show Notes:
Cannabis Market Overview May 2021
https://www.headset.io/posts/cannabis-market-overview-may-2021
U.S. Cannabis Sales Hit Record $17.5 Billion As Americans Consume More Marijuana Than Ever Before
https://www.forbes.com/sites/willyakowicz/2021/03/03/us-cannabis-sales-hit-record-175-billion-as-americans-consume-more-marijuana-than-ever-before/?sh=4dc1cbad2bcf

Host:
Josh Kincaid, Capital Markets Analyst & host of your cannabis business podcast.
https://www.linkedin.com/in/joshkincaid/

Episode 716 of The Talking Hedge:
Your Cannabis Business Podcast.
​Covering cannabis products, reviews, business news, interviews, investments, events, and more.
https://www.theTalkingHedgepodcast.com

Music Info:
Song: Beat | Keep On | 2020
Artist: Milochromatic Beats
&
Song: Dark Trap Beats Hard Rap Instrumental | Gang | 2018
Artist: LuxrayBeats

Keywords:
Hemp News, Weed News, Cannabis News, Marijuana News, Cannabis Business, Marijuana Business, Cannabis Industry News, Marijuana Industry News, Weed News 420, Talking Hedge Podcast, Cannabis Podcast, Marijuana Podcast, Business Podcast, CBD podcast, THC podcast, Cannabis Pitch Deck, Marijuana Pitch Deck, Marijuana Investment Deck, Cannabis Investment Deck, Cannabis Compliance, Cannabis Data, Cannabis Banking, Cannabis Investment, Pot Stocks, Cannabis Stocks, Weed Stocks, Marijuana Stocks, Cannabis Data, Marijuana Data, Cannabis Analytics, Marijuana Analytics, Cannabis Sales Data, Marijuana Sales Data

Josh is not an investment adviser. The Talking Hedge is long gold and silver. Listeners should always speak to their personal financial advisers.