Nucleus One updated its report on the development of the market for Adult Use Marijuana in Massachusetts.
The Massachusetts Adult Use Marijuana market now has one full calendar year of operations under its belt with sales reaching approximately $444 million in 2019. It has been a wonder to watch this growth from a ballot question to a burgeoning industry employing over 7,000 people. This new and growing industry encountered significant challenges in 2019 including an ever-growing state license application backlog, cities and towns establishing and revising their marijuana ordinances, Host Community Agreement scandals and investigation, and a brief ban on the sale of vaping products. Despite difficulties, we expect to see the industry continue to grow and adapt in 2020.
The Cannabis Control Commission (CCC) of Massachusetts has done a great job making the market data publicly available through their OpenData platform. Our team has analyzed this trove of data and combined it with other available sources to present key market insights in a visual way.
The report covers retail and cultivation, two areas where Nucleus One helps investors and entrepreneurs start, grow and improve their cannabis operations.