Hello Unleash Organics community! Check out the latest news on Cannabis industry growth.
In case you missed it, the Cannabis Business Times just published its annual “State of the Cannabis Cultivation Industry Report.” As a resource for the Cannabis community, we wanted to pass along the information!
What is the State of Cannabis Industry Growth?
If you’re not familiar with the report, each year the Cannabis Business Times asks readers to share business and cultivation data to gain a better understanding of how the market is growing and changing. Readers offer fresh insights that the CBT team delivers in its annual report.
Some of this year’s report highlights include:
- 24% of research participants indicated their profits grew in their latest completed fiscal year
- 80% of research participants grow Cannabis indoors
- 24% of research participants reported operating facilities in Oaklahoma’s Medical-Only Market
- 73% of research participants who currently cultivate and indicated they planned to add either indoor, greenhouse or outdoor cultivation space within the next two years
Check out the full Cannabis Industry Growth report here.
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***The report’s data was collected by Readex Research via an online survey, which was sent to all emailable, active, qualified subscribers to Cannabis Business Times magazine and/or e-newsletter located in the U.S. or Canada, from April 15 to April 28, 2021. The survey was closed for tabulation with 462 responses. To best represent the audience of interest, most of the results in this report were based on the 127 respondents who indicated they currently own or work for an organization that grows cannabis exclusively or in combination with processing/extraction. Unless otherwise noted, this is the base for the data presented in this report. Another 91 respondents indicated they do not currently own or work for an operation that grows cannabis, but plan to in the next 18 months. The margin of error for percentages based on the 127 respondents who currently own or work for an operation that grows cannabis is approximately +/- 8.6 percentage points at the 95% confidence level.