Marijuana Stores Industry Profile

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Excerpt from Marijuana Stores Industry Profile

Companies in this industry retail cannabis products for medical and recreational use. The industry includes medical marijuana dispensaries and stores that sell marijuana for recreational use. No major companies dominate the industry.

Investors and entrepreneurs are confident of the market's potential, but determining which business approaches are most viable is challenging. Legal and financial risk parameters are difficult to define, and industry data and analysis are minimal. Regardless, increased capital is flowing steadily into the industry. Startup resources including finance, logistics, software, and consulting are materializing rapidly.

Regulated cannabis-related businesses such as dispensaries highly dominate US states such as Oklahoma, California, and Oregon, according to Statista. In 2021, the industry is able to support about 321,000 full-time American jobs across 37 states, according to BusinessWire. In addition, the industry in the US is valued at $61 billion, according to Flowhub. Globally, cannabis sales is expected to reach $62 billion by 2026.

COMPETITIVE LANDSCAPE

Demand is driven by demographics, public awareness of the marijuana plant's medicinal properties, and the desire for natural health treatments. Following decades of prohibition in the US, marijuana has gained greater public acceptance. Baby boomers with health conditions are driving medical marijuana sales, while recreational users include younger generations seeking a substitute to alcohol or other euphoric substances. Marijuana faces ongoing opposition due to health and addiction concerns, and the pros and cons of marijuana use remain widely ...

 
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