DENVER — The Colorado Department of Revenue’s Marijuana Enforcement Division (MED) released a study that analyzed the market size and demand for marijuana in Colorado Wednesday.
A collaboration with the Marijuana Policy Group, a University of Colorado Boulder research group, the study focused on the demand for pot by adult consumers, both out-of-state visitors and Colorado residents, according to MED.
The study assessed the market through a combination of survey results, state demographic information, associated text and Colorado-specific source data.
Study results estimated that the demand for cannabis in Colorado by state residents is 121.4 metric tons per year and 8.9 metric tons per year for out-of-state visitors, MED stated in a release. The Market Demand Study also analyzed specific demand channels, consumption methods used in Colorado and the number of users that converted from medicinal marijuana use to retail consumption.
The department said it is important to understand demand and usage in the state due to the many options available to consumers, like pipes, vape pens, edible products, concentrates, tinctures and lotions.
“The MED collects data and information through various channels in the regulated market and the Market Demand Study will be another avenue used to help reassess the regulations and guide future development,” said Lewis Koski, director of MED.