The Massachusetts adult-use marijuana market is continuing to grow rapidly, posting total sales of $2.54 billion in just three years. This rapid growth is evidenced by the fact that the market is projected to grow even more in the next few years, reaching $4.57 billion by 2021.
This growth is impressive given the legal uncertainties that initially surrounded the market. It has led to a number of significant benefits for the state of Massachusetts. First, the market has created a number of jobs. According to the Massachusetts Department of Revenue, the market has created more than 114,000 jobs. Second, the market has generated a significant amount of revenue for the state. This growth is due to the fact that Massachusetts has the most licence holders of any state in the country.
While the market size is impressive, what is even more impressive is the scope of this market. The market has seen large jumps in sales of both cannabis and CBD products. Cannabis sales alone have increased by more than 600%, while CBD sales are up more than 900%. This indicates that there is a strong demand for both products, which suggests that the market is becoming more diverse and complex.
The market is still in its early stages, which suggests that there is still room for growth. In particular, the market is still missing certain key products. This could be due to limitations on the supply side or the demand side.
Overall, the Massachusetts adult-use marijuana market is showing signs of continuing growth. This indicates that the market is likely to become even more complex and diverse in the years ahead.