Colorado Department of Revenue, Marijuana Enforcement Division

2020 Regulated Marijuana Market Update

Prepared for:

Colorado Department of Revenue, Marijuana Enforcement Division

PREPARED BY:

TABLE OF CONTENTS

Project Background3-4 Summary5-11 Market Trends12-24 Market Structure25-29 Supply & Demand30-39 Covid Impacts40-44 Appendices45-47

PROJECT BACKGROUND

PROJECT BACKGROUND

Overview

The Colorado Department of Revenue's Marijuana Enforcement Division (MED) commissioned this study to highlight key aspects of the state's regulated market. The MED provides this information to improve market transparency and to inform policymakers about the status of Colorado's marketplace.

The report provides several key metrics to the MED and highlights the use of the state marijuana Inventory Tracking System (provided by vendor METRC) to evaluate regulatory performance. This report is part of the state's continuous effort to monitor and improve a comprehensive marijuana regulatory framework.

This report is the fourth edition of Market Size and Demand for Marijuana in Colorado that was originally published in 2014. This edition examines the State's available Inventory Tracking System data through year-end 2020, focusing on the continued evolution of regulated marijuana trends in price, potency, product shares, production patterns, licensing structures and corporate market share, and product transfer flows.

This report also examines the effects of COVID-19 on daily transaction characteristics, sales volume, and consumer preferences.

? For!more information please email info@mpg.consulting or brdinfo@colorado.edu.

Key Market Changes: 2018-2020

? 2018: New courier/transport license

? 2018: Own-source (vertical) products requirement eliminated

? 2019: New medical conditions: autism and any condition treated with opiates

? 2019: Public companies and nonresidents allowed to own Colorado marijuana companies

? 2020: Medical marijuana delivery business commences

? 2020: New hospitality establishment licenses become available

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SUMMARY

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