Florida is home to a very fast-growing culture. The Cannabis Culture, Florida has grown leaps and bounds in the marijuana market since 2016.
According to iAnthus Capital’s investor presentation, the medical marijuana market in Florida will be worth $1.0 billion by 2020. iAnthus Capital estimates the number of residents in Florida to be 21 million. According to the Marijuana Policy Project, there are 240,070 registered medical marijuana patients in Florida. This number amounts to around 1.13% of the state’s total population—a significant amount compared to iAnthus Capital’s estimate of 67,385 registered patients in the state as of December 1, 2018.
According to Marijuana Business Daily, Florida is the second-fastest-growing medical marijuana market in the US. The newsletter expects average daily medical marijuana patient growth in Florida to be 609. This figure is only slightly lower than the expected patient growth of 641 in Oklahoma, which is deemed the fastest-growing medical marijuana market in the US. According to Marijuana Business Daily, registered medical marijuana patients account for 1.6% of the state’s total population.
With a billion-dollar industry and a large population of users in florida, the state is on a fast track to recreational marijuana or adult use marijuana. Regulate Florida is still out pushing for those 700,000+ signatures to get on the 2020 ballot and we cant wait to see such a huge goal reached.