Nearly half – 47% – of all adult-use cannabis licensees awarded annually in New Jersey are majority minority-owned businesses, with 44% issued to majority women-owned or majority disabled veteran-owned, according to state Cannabis Regulatory Commission (CRC) data.
The agency notes that while just 10% of businesses in the state are Black-owned, 17% of cannabis licenses went to Black-owned entities and 13% of cannabis licenses were awarded to Asian-owned businesses despite them comprising only 10% of state businesses.
As of November 2025, there were 338 cannabis business licenses and permits currently in operation: 251 for adult-use (including expanded Alternative Treatment Centers) and 87 for medical purposes, according to the CRC. During the first three quarters of 2024, the adult-use market generated $722,921,233 while the medical cannabis market generated $66,927,020 during the same period. Overall, the state’s cannabis industry generated $43,290,543 in tax revenue and collected $2,248,270 in social equity excise fees.
Flower was the top-selling product in New Jersey last year, accounting for just over 41% of the market. Vape cartridges ranked second, making up 29%, while edibles represented 14% of sales. The remaining 17% of the market consisted of pre-rolls, concentrates, shake and trim, capsules,