MJ Biz Daily’s Top 5 Charts That Explain The Cannabis Industry’s Unpredictable 2021

CANNANNEW REPORT

If you wish to re-publish this story please do so with following accreditation EDITOR: Heather Allman PUBLISHER: CANNABIS LAW REPORT   5 charts that explain the cannabis industry’s unpredictable 2021   By Andrew Long, Data Reporter December 29, 2021 – Updated December 29, 2021   Political and pandemic upheavals made 2020 an exceptional year. And the roller-coast ride failed to slow in 2021, marking a second straight year of extreme unpredictability for the cannabis industry.  Would marijuana retail sales continue to skyrocket, with more and more pandemic-weary consumers seeking out cannabis for stress relief? Would the new Democratic president and Congress be able to push through landmark cannabis reform legislation? Would investors resume writing big checks for cannabis companies? As 2021 comes lurching to an end, it’s worth considering how these and other questions actually unfolded over the past year. Below are five charts to help explain the state of the cannabis industry in 2021:   After sales soared to record highs in 2020 amid the pandemic, analysts wondered if the trend would continue in 2021. It did not. Marijuana retail sales, while continuing to show growth in some areas, decelerated from the torrid pace set in 2020. The pace of sales began to slow after the unofficial 4/20 holiday and have yet to recover their earlier momentum. It could be a harbinger heading into 2022.   Lawmakers and governors stepped up in 2021 by producing a record number of legislative-driven marijuana markets. Connecticut, New Mexico, New York and Virginia approved adult-use markets in 2021, while Alabama’s lawmakers and governor signed off on a new medical program The MJBizFactbook projects those five markets together will generate more than $5.1 billion in annual sales by their fourth year of operation. The trend reflects how marijuana legalization is increasingly being driven by lawmakers and governors rather than citizen-led initiatives.…

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