From legislative and regulatory changes to market sensitivity and price stabilization to M&A dynamics, it will be crucial to remain cautious of hurdles that the marijuana sector will face and stay on top of the five areas that are expected to shape the industry in 2024.
Critics say Oklahoma regulators overstepped in 2023, but others argue more oversight is needed for wholesale marijuana prices to recover.
Year-over-year marijuana sales-growth rates varied in 2023, with new markets continuing to grow and established markets not declining as much.
Less than one-third of California’s 37 licensed cannabis testing laboratories began the new year permitted to test marijuana flower and non-infused pre-rolls, state regulators told MJBizDaily.
Canadian operators destroyed millions of packages of unsold cannabis products and a record amount of unpackaged dried flower in 2022 and the first half of 2023, largely because of years of imbalance in supply and demand, MJBizDaily has learned.
THC potency – the higher, the better – is still the most important factor to consumers shopping for marijuana products, cannabis operators say, but secondary factors also are driving genetics trends at cultivation facilities across the United States.
Several of the nation’s largest cannabis companies have already mapped out their retail expansion plans in 2024, a consequence of licensing caps, limited new market opportunities and ongoing capital concerns.
