The New York state cannabis market is projected to be one of the biggest in the world, with some industry estimates forecasting sales to surpass $2 billion within just a few years. But the state’s recreational industry is just starting to get off the ground, with multiple players eyeing how to break in and make money.
The city’s first state-sanctioned adult-use dispensary opened in December, and its second – but first social-equity licensed store – just opened this week. Meanwhile, smoke shops are popping up on seemingly every corner, and medical marijuana dispensaries are holding on to prime real estate as both await what they hope will be their turn in the licensing process.
This month, Green Market Report joined forces with our sister publication Crain’s New York to take a closer look at the rollout:
- New York’s Cannabis Market Faces Uphill Climb as Adult-Use Sales Begin
- Potency Tax Could be a Major Buzzkill for Sanctioned Cannabis Retailers
- As Rec Sales Start, Medical Marijuana Firms Left Warming the Bench
We also asked some of the various stakeholders to share their thoughts on where the rollout is – and where they think it should go. Contributors include:
- Dasheeda Dawson, Cannabis NYC
- Kristina Lopez Adduci, House of Puff, and Vladimir Bautista, Happy Munkey (also available in Spanish here.)
- David N. Feldman, Skip Intro Advisors
- Mitzi Keating, Citrin Cooperman
This package really is just a snapshot of an evolving market and industry – one that we’ll be keeping a close eye on in the weeks and months to come.
Thanks to Telisha Bryan, managing editor of Crain’s New York, and her team for helping us create this package for you, and to Buck Ennis for capturing the industry in pictures.