Size:
According to the United States Census Bureau, Maine has a total population of 1.329 million people. The most recent Gallup Poll conducted in August 2016, suggests that 13% of the national populace regularly consumes marijuana, while another 43 % claimed to have used it once in their lifetime. While these numbers may be quite liberal for some states like Texas or Florida, they are conservative for a state like Maine, which has had legal medical agriculture for nearly two decades. Data from the Maine Medical Marijuana Program claims there are over 24,000 medical cardholders. Therefore, it is a realistic estimate that the total market within the state is approximately 750,000 regular and potential consumers.
Growth Potential:
Before we can accurately analyze growth, we must take note of how recreational has impacted new markets with pre-existing medical programs. Nationally, Arcview shows comparative data of medical and recreational sales starting in 2015 to 2021. Year 1 confirms recreational amassing nearly 20% of total sales. Year 2 suggests 27% followed by 30% in year 3. Year 4-7 show continued increasing percentages of recreational in comparison to total sales with 37%, 52%, 59% and 66% respectively.
MARKET
Business Plan
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