Check out Nucleus One’s most up-to-date report on the development of the adult-use marijuana market in Massachusetts.
Key highlights of this report include:
While our December 2020 report showed a decline in cannabis sales in November, the Massachusetts market broke new sales record in both December 2020 and January 2021, with January sales jumping to $87.5 million, up from 68% last year. Based on these new highs, annualized sales now top $1 billion and counting.
The Cannabis Control Commission has had an active start to 2021, publishing new medical and adult-use regulations in January. The Commission also welcomed three new commissioners, Nurys Z. Camargo, Bruce Stebbins, and Ava Callender Concepcion.
Challenges to the new delivery rules were dropped this past month, clearing the way for an exciting delivery market that has only become more relevant as the new consumption habits of the “New Normal” seem to stick.
Additionally, the medical marijuana program has recorded a significant uptick in patient registrations since the beginning of the pandemic. The milestone of 100,000 patients has just been reached, up from 67,742 in March 2020.
As more stores open across the Commonwealth, the number of employees in the Massachusetts industry continues to grow steadily. The number of employees has jumped by 72% year-on-year, approaching 7,000 as of December 2020.
In the coming months, we expect discussions about eliminating the vertical integration requirement for medical operators to begin, according to Steven Hoffman.
Download our full report below to get the most comprehensive understanding of the Massachusetts market. The report covers retail and cultivation, two areas where Nucleus One helps investors and entrepreneurs start, grow and improve their cannabis operations.