Michigan’s Growing $2B Cannabis Market Is Second-Largest In US, Headset Report Says
It’s expected to grow into $2.5 billion by 2025
As some cannabis markets have slowed down throughout 2022, it appears as though Michigan is on a different course. The state boasts a $2 billion cannabis market, serving a population of 9.9 million people and expected to grow into $2.5 billion by 2025.
And now Headset, the leading provider of data and analytics to the cannabis industry, has shared a new report, following insights around sales, category trends, consumer preferences and demographics. The data comes from real-time sales reporting by participating cannabis retailers, via their point-of-sale systems linked up with Headset’s business intelligence software.
Michigan voters approved Proposal 18-1 in November 2018, legalizing cannabis in the state and creating the Michigan Regulation and Taxation of Marihuana Act. State-licensed sales of recreational cannabis began in December 2019.
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