Six state markets are set to contribute more than 75% of U.S. cannabis sales growth over the next three years, according to data from cannabis wholesale platform LeafLink. Those states include Illinois, New York, New Jersey, Maryland, and Ohio – which already have adult-use cannabis markets – and Minnesota, which is expected to come online this year.
According to LeafLink data, Illinois’ cannabis market is expected to reach $2.8 billion in 2027, driven by “high unit prices, and strong retail density in key cities across the state.” LeafLink also expects about 140 new social equity licenses to come online over the next six to 12 months.
New Jersey’s adult-use cannabis market is expected to total $2 billion by 2027, according to LeakLink, with more than 1,500 new licenses planned to be issued by the middle of next year across the supply chain. LeafLink notes that the licenses will be “highly fragmented” including 270 new cultivation licenses, more than 200 manufacturers, 600-plus dispensaries, and more than 400 integrated microbusinesses which will all be independent, non-vertical licenses.
In New York, where LeafLink notes two to three retail dispensaries are opening weekly in the state, sales are expected to