EAST LANSING — Growth in demand for legal cannabis products in the United States picked up in December after several months of slow growth in the fall.
This news was released Tuesday in Anderson Economic Group’s monthly AndCan Index. AEG’s experts produce monthly measurements 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.
Anderson Economic Group’s lead analyst for this market, Kenan Cosguner, noted that the quickening growth in cannabis demand may continue into 2021 due to the personal income boost resulting from stimulus payments provided through the COVID-19 relief bill passed in late December.
“We saw a surge in demand for cannabis products coinciding with the onset of the pandemic and the passage of initial federal relief programs last spring,” he explained. “Given that the December relief bill provided new stimulus checks and extended expanded unemployment insurance, and that new stimulus measures are currently being considered in Congress, we may see demand growth accelerate in 2021.”
While demand for cannabis products nationwide increased from November to December, some states saw higher growth than others. For example, while Colorado’s recreational cannabis sales grew by 6 percent, Massachusetts, Michigan, and Illinois all saw growth in the double digits.