BDSA Finds 30% Increase in Legal Cannabis Usage Between 2019 and 2020; Expected to be a Top 15 Market by 2024
BDSA, the leader in data, market intelligence and advisory services to the cannabis industry, announced today the expansion of its cannabis retail sales tracking coverage to include the Pennsylvania market. Pennsylvania’s legal cannabis market has grown consistently since medical use was legalized in 2016. With legal adult recreational use on the horizon, BDSA expects Pennsylvania to be one of the top 15 U.S. markets within the next three years.
Legal cannabis consumption in Pennsylvania increased significantly according to BDSA consumer research, growing by almost 30% YoY from 24% of respondents reporting legal cannabis consumption in the fall of 2019 to 31% in the fall of 2020.
“Pennsylvania has the fifth largest population of people aged 21 or older, which directly correlates to the forecasted size of the cannabis market,” said Micah Tapman, CEO of BDSA. “Companies and industries interested in investing or working in the Pennsylvania cannabis market can leverage BDSA’s solutions to gain unparalleled insights into product attributes, consumer preferences, shopping behaviors, and more.”
Retailers, manufacturers, brands, wholesalers and investors that work with BDSA will now be able to access the most up-to-date and comprehensive suite of cannabis market research for Pennsylvania. BDSA solutions enable product development and innovation, sales and marketing activities, revenue optimization and investment decisions. Enhanced attribute coding and advanced forecasting algorithms combine to make BDSA’s market insights invaluable tools to review product attributes, velocity and distribution, and more.
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