The cannabis market in the US has been ramping up since California first legalized medicinal consumption in 1996.. This is evident as more states choose to legalize the use of cannabis for both medical and recreational purposes.
One of these states is New Jersey. Recreational cannabis use was legalized in the state on February 22nd, 2021. New Jersey residents are now able to purchase up to six ounces, or the equivalent of one ounce of flower.
Here are some NJ cannabis infographics that can help inform you on what is happening in the local industry. These show the potential of the cannabis industry within the state for the years to come.
With the legalization of recreational cannabis in New Jersey, people can expect more dispensaries to be selling cannabis products to the public. The following are currently the biggest dispensary brands in New Jersey:
- Zenleaf – 3 outlets
- Curaleaf – 3 outlets
- Apothecarium Dispensary – 3 outlets
- The Botanist – 3 outlets
- Rise – 3 outlets
- Ascend – 3 outlets
- Garden State Dispensary – 3 outlets
10 biggest cities in New Jersey with no cannabis dispensaries
There are still many cities in New Jersey that as of January 2023 do not yet have any cannabis dispensaries. This leaves a big opportunity for cannabis brands to put up outlets in these cities. The following cannabis infographic is a map of the 10 biggest cities in New Jersey with no dispensaries.
Interestingly, Lucky Leaf will be bringing their cannabis convention series to Edison in 2023.
Medicinal cannabis sales in New Jersey have been increasing quarter on quarter since Q4 2021. Overall, this cannabis infographic shows that recreational sales increased by approximately 46% from Q2 2022 when it was first legalized to Q3 2022.
This was led by consistent new dispensary openings, proving that the cannabis industry in New Jersey is up and alive. The cannabis industry in New Jersey represents a huge opportunity for business development, job growth, and tax revenue.
In the coming years, it is expected that sales of recreational cannabis will continue to increase, especially now that residents are aware of its legality in the state. This will boost the cannabis industry in the state even more.
Increase in Adult Cannabis Use in New Jersey
Recent research from Rutgers University shows that adult cannabis users over the age of 26 are significantly more numerous than those aged 18–25. This trend is true both in New Jersey and across America. In fact, from 2016 to 2019 the number of older adult users in New Jersey increased by 150,000 while the number of younger adult users didn’t change noticeably.
This number is likely to increase even more as residents embrace the legalization of cannabis in the state.
Projected Growth of the Cannabis Market in the US
With more states legalizing recreational cannabis, more users will have easy, legal access to it. This is why the cannabis market in the US is projected to increase by millions of users.
From 2012 to 2030, the US is expecting 40 million more users of cannabis. This is a huge number, which will fuel a high demand for cannabis products in the coming years.
With Approximately 9.2 million residents, New Jersey is the 11th most populous US state. Given that their legal recreational cannabis is less than a year old, it is likely that the growth in users in New Jersey will outpace that of the rest of the country.
Getting the right information on the guidelines and laws on cannabis in New Jersey will help you capitalize on this business opportunity. Keep in mind that, even though cannabis is legal in New Jersey, there will always be guidelines and requirements to follow. Here is some important information regarding what is and is not allowed by the New Jersey cannabis industry:
Solink can help your cannabis business
We cannot overstate how important video monitoring is for the cannabis industry. Solink provides a video analytics platform that connects your security cameras to your POS and other systems. That way, your security cameras transform into a business intelligence system.
For example, Canada Buds uses Solink to improve their store layout and attribute revenue to advertising campaigns. This is just one way your security system can be used for operations management.
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About the author:
Nina Julia is a seasoned editor and writer with a passion for medical health. With years of experience in the industry, she has a keen eye for detail and a deep understanding of the healthcare sector. Through her writing, Nina aims to educate and inform readers on a range of health-related topics, from the latest medical advancements to everyday health tips. With her expertise, she has established herself as a trusted voice in the medical health community, delivering accurate and informative content to her readers.
