Cannabis Industry Shift: Adult Use Markets Launch Quicker and Medical Channel takes the Hit?
In 2022, total U.S. legal cannabis sales increased to $26.4 Billion (+38% vs. total 2020 annual sales). This sales growth is just one of many stories that reflect the evolution of the U.S. legal Cannabis Industry.
Not only are Adult Use channels increasingly driving growth, but Adult Use markets are coming online faster. With a highly competitive brand landscape, diverse and innovative product category mix, and enticing consumer, brands in cannabis experience the same issues as their counterparts in other consumer-driven markets. Brands are constantly working to find new ways to build consumer loyalty, and a thorough understanding of the evolution of Adult Use and Medical markets is key to targeting specific consumer segments.
California’s Cannabis Industry is Ready to Realize Its Full Potential
Inspired by the Cannabis Intelligence Briefing Series Report: