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The Midwest is becoming a larger player in the legal cannabis marketplace as more states begin to legalize recreational use. The Michigan market is already currently the third-largest legal adult-use cannabis market in the U.S. behind Colorado and California. Two of the most populated states, Michigan and Illinois, have legal markets that are skyrocketing.
BDSA Retail Sales Tracking data shows that sales were close to double from 2020 to 2021 in both those states. Several Midwest cannabis brands are on the rise. Two top players to watch in Illinois include Rythm, a subsidiary brand of Green Thumb Industries, and Cresco Cannabis, a subsidiary brand of Cresco Labs. Rythm was ranked number one by dollar sales across BDSA-tracked markets in 2021, and Cresco Cannabis was number two. With sales having slowed in mature markets such as California, Colorado and Oregon, Midwest markets are expected to be a major driver of this new growth. BDSA forecasts total U.S. cannabis sales to reach around $46 billion by 2026, with the Midwest markets of Illinois, Michigan, and Missouri being three of the top 10 contributors to U.S. cannabis sales growth over that period. Comments are closed.
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