EAST LANSING – Demand for legal cannabis products in the United States slowed in March, according to Anderson Economic Group’s monthly AndCan Index.
While the legal cannabis market showed steady growth through most of 2019 and experienced a strong start in 2020, March numbers remained steady.
AEG experts attribute the lack of growth to factors related to the COVID-19 pandemic.
Anderson Economic Group’s lead analyst for this market, Kenan Cosguner, expressed confidence in a return to strong growth trends in the long term. Cosguner indicates caution in the near term, however:
“We expect to see dampening effects from the ongoing COVID-19 outbreak for the next several months,” he explained. “The outbreak will continue to suppress market growth while the disease hampers consumer mobility and sociability.”
AEG’s experts produce this monthly measurement by closely following 50-state trends for both the recreational and medicinal marijuana markets. Monthly calculations are based on benchmarks developed when AEG first began assessing the market in 2015.
To see an Internet visualization, click on https://www.andersoneconomicgroup.com/andcanindex-june-2020-release-demand-growth-flat-in-march/