Marijuana Stores Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 10/24/2022
SIC Codes: 5993, 5999
NAICS Codes: 453998
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
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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.

Regulated cannabis-related businesses such as dispensaries highly dominate US states such as Oklahoma, California, and Oregon, according to Statista. In 2022, the industry is able to support over 428,000 full-time American jobs, according to Business Wire. In addition, weed sales reached about $25 billion in 2021, according to Flowhub. Global cannabis sales are forecast to reach about $57 billion in 2026, according to the latest projections from BDSA.

The US miscellaneous store retailers, including marijuana stores, include over 21,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $20 billion.

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 debated.

Paths to Entry

• Financial Resources

• Supply & Logistics Connections

• IT Systems for Accounting, Inventory, Security

Barriers to Entry

• Wide Variance in Regulation

• Public Opinion

• Political ...

 
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