EAST LANSING – According to Anderson Economic Group’s monthly AndCan®Index, demand for legal cannabis products in the United States continued a steady climb through December to close 2019 on a strong note. The Index is produced each month by AEG’s experts, who closely monitor all 50 states to measure trends in the recreational and medicinal marijuana markets. AEG developed the AndCan®Index benchmarks when the company first began assessing the market in 2015.
2019’s monthly trends moved consistently upward, with the exception of some slight softening in August and September. Year-over-year growth for December was at 15.9%.
Andrew Miller, one of Anderson Economic Group’s analysts for this market, believes demand for legal cannabis will continue to grow steadily in 2020. “We do not expect to see any significant fluctuation in demand at this time,” says Miller, “although the recent opening of recreational cannabis markets in Illinois and Michigan will contribute to growth in demand as those markets mature.”
Anderson Economic Group has published the AndCan®Index on a monthly basis since June, 2017. The methodology behind this reliable assessment of the U.S. legal cannabis market is described in Patrick L. Anderson’s “Blue smoke and seers: measuring latent demand for cannabis products in a partially criminalize market,” currently available online in the journal Business Economics.