More of the legal marijuana sold in Colorado is increasingly for recreational use
ColoradoMarijuana Industry NewsRecreational Marijuana August 6, 2019 MJ Shareholders 0
The recreational market continues to increase its share of Colorado’s legal marijuana sales, with a new report showing that 66 percent of the total pounds of marijuana flowers and 86 percent of the total units of edibles sold in 2018 were for recreational use.
In 2017, recreational use accounted for 58 percent of the total pounds and 83 percent of the units of edibles sold by marijuana businesses, according to an annual update released Monday by the Colorado Marijuana Enforcement Division in the state Department of Revenue. Medical marijuana made up the rest of the sales.
The number of recreational marijuana business licenses increased by 3 percent while the number of medical marijuana licenses dropped 8 percent, the first decline in a couple of years, said Shannon Gray, division spokeswoman.
The report is the division’s fifth straight analysis of the marijuana industry. Recreational use was legalized in 2014, and the medical use of marijuana was approved in 2000.
“This ongoing analysis and compilation of industry information helps inform the public and contributes to our outreach efforts to stakeholders,” said Jim Burack, division director.
The report’s findings include:
- Marijuana plants for recreational use, or what the report calls adult use, accounted for 75 percent of all the plants cultivated from July to December.
MJ Shareholders
MJShareholders.com is the largest dedicated financial network and leading corporate communications firm serving the legal cannabis industry. Our network aims to connect public marijuana companies with these focused cannabis audiences across the US and Canada that are critical for growth: Short and long term cannabis investors Active funding sources Mainstream media Business leaders Cannabis consumers
No comments so far.
Be first to leave comment below.