Colorado Marijuana Market Report

Transcription

1 Colorado Marijuana Market Report Paul Seaborn, Ph.D. Daniels College of Business December 2016

2 December 2016 Colorado Marijuana Market Report based on License data from the Colorado Marijuana Enforcement Division (MED) conducted by Paul Seaborn, Ph.D. of the Daniels College of Business, The University of Denver Copyright

3 Notable Observations The total number of active marijuana business licenses issued by the Colorado Marijuana Enforcement Division (MED) continues to grow and is now at an all-time record high of 2, % of active licenses are for medical marijuana businesses and 46% for recreational/retail businesses. Of the eight categories of licenses, the two fastest-growing categories since January 2016 have been Retail Marijuana Products Manufacturing (up 40% from 168 licenses to 236) and Retail Marijuana Cultivation Facilities (up 22% from 514 licenses to 625) Medical and retail cultivations represent the largest number of total licenses, followed by medical centers. The City and County of Denver has over 1/3 of state s active marijuana licenses (1,244), followed by Colorado Springs, Boulder, Pueblo, and Pueblo West. Aurora and Trinidad have now passed Fort Collins in terms of the number of active licenses. The largest license-holders in the state operating under a single name are Native Roots (62), LivWell (49), and SweetLeaf (34). While the largest license-holders continue to increase their share of total licenses, no single organization name represents more than 2.5% of the state s licenses. Methodology: This analysis is based on raw license data provided by the Colorado MED on a ly basis. Each business license represents a separate operating location for one of the eight types of marijuana businesses (four medical, four retail). Data errors in the raw MED data have been checked and corrected where possible but some may remain. The largest license-holders have been identified based on common license names (e.g. Native Roots Vail, Native Roots Boulder) rather than owner names. License totals do not directly reflect the level of economic activity in the Colorado marijuana industry. To receive a copy of future Colorado Marijuana Market Reports, to provide feedback, request additional information or suggest additional industry analysis, please contact: Paul Seaborn Assistant Professor - Department of Management Daniels College of Business University of Denver paul.seaborn@du.edu 3

4 # of Active Colorado Marijuana Licenses Jan Present Recreational/Retail Medical Source: DU Prof. Paul Seaborn's analysis of Colorado Marijuana Enforcement Division data The total number of Colorado marijuana licenses has grown steadily since 2013, with a significant one- increase in January 2014 after the legalization of recreational marijuana as a result of the passing of Amendment 64. Note: The only license data available prior to January 2014 was for Medical Centers. 4

5 # of Colorado Marijuana Licenses by Type Medical Center Retail Cultivation Medical Infused Retail Testing Medical Cultivation Retail Dispensary Retail Product Manufacturing Medical Testing Source: DU Prof. Paul Seaborn's analysis of Colorado Medical Enforcement Division data # of Active Colorado Marijuana Licenses Jan Present Retail Testing Retail Manufacturers Retail Stores Retail Cultivations Medical Testing Medical Infused Manufacturers Medical Cultivations Medical Centers Source: DU Prof. Paul Seaborn's analysis of Colorado Marijuana Enforcement Division data 5

6 # of Active Colorado Licenses - Medical Only Jan 2013 to Present Medical Testing Medical Infused Medical Cultivation Medical Centers Source: DU Prof. Paul Seaborn's analysis of Colorado Medical Enforcement Division data # of Active Colorado Retail Licenses - Retail Only Jan 2014 to Present Retail Testing Retail Mfg Retail Dispensary Retail Cultivation 01 Jan Jan Jan Jan 17 Source: DU Prof. Paul Seaborn's analysis of Colorado Medical Enforcement Division data 6

7 # of Colorado Marijuana Licenses - Top 5 Cities Denver Boulder Pueblo West Colorado Springs Pueblo Source: DU Prof. Paul Seaborn's analysis of Colorado Medical Enforcement Division data # of Colorado Marijuana Licenses - Cities 6th-15th Aurora Fort Collins Steamboat Springs Wheatridge Garden City Trinidad Durango Carbondale Telluride Lafayette Source: DU Prof Paul Seaborn's analysis of Colorado MED data. Excludes Top 5 cities by # of licenses 7

8 # of Active Colorado Marijuana Licenses - Top 5 Cities Jan Present Pueblo West Pueblo Boulder Colorado Springs Denver Source: DU Prof. Paul Seaborn's analysis of Colorado Marijuana Enforcement Division data # of Active Colorado Marijuana Licenses - Cities 6th-15th Jan Present Lafayette Telluride Carbondale Durango Trinidad Garden City Wheat Ridge Steamboat Fort Collins Aurora Source: DU Prof. Paul Seaborn's analysis of Colorado Marijuana Enforcement Division data 8

9 Top Ten Colorado Marijuana License Holders Jan 2013 to Present Native Roots Sweet Leaf Buddy Boy The Clinic Rocky Mountain Remedies Livwell Green Solution Maggie's Farm Pure Medical Silver Stem Source: DU Prof. Paul Seaborn's analysis of Colorado Medical Enforcement Division data Top Ten Colorado Marijuana License-Holders Jan Present Buddy Boy Green Solution Silver Stem Rocky Mtn Remedies Pure Medical The Clinic Maggie's Farm Sweet Leaf LivWell Native Roots Source: DU Prof. Paul Seaborn's analysis of Colorado Marijuana Enforcement Division data 9

10 LICENSE_TYPE Freq. Percent Cum. Infused Product Manufacturer Medical Licensed Center Medical Marijuana Testing Optional Premises Cultivation Retail Marijuana Retail Marijuana Cultivation Facility Retail Marijuana Products Mfg Retail Marijuana Testing Facility Total 2, Top 15 Colorado Cities Medical Recreational Total AURORA BOULDER CARBONDALE COLORADO SPRINGS DENVER ,244 DURANGO FORT COLLINS GARDEN CITY LAFAYETTE PUEBLO PUEBLO WEST STEAMBOAT SPRINGS TELLURIDE TRINIDAD WHEAT RIDGE Total 1, ,308 10

11 >10 Active Licenses Freq. Percent Cum. NATIVE ROOTS LIVWELL SWEET LEAF THE GREEN SOLUTION BUDDY BOY MAGGIES FARM PURE MEDICAL THE CLINIC ROCKY MOUNTAIN REMEDIES SILVER STEM FINE CANNABIS ADAMS GREEN CROSSING GREEN TREE MEDICINALS HGCO MMJ AMERICA LIGHTSHADE STARBUDS NEW AGE MEDICAL A CUT ABOVE ALTITUDE ORGANIC BEST BUDZ FROSTED LEAF COLORADO HARVEST COMPANY DOCTORS ORDERS GREEN DRAGON INFINITE WELLNESS CENTER TRU CANNABIS

12 city Freq. Percent Cum. DENVER 1, COLORADO SPRINGS BOULDER PUEBLO PUEBLO WEST AURORA TRINIDAD FORT COLLINS DURANGO STEAMBOAT SPRINGS WHEAT RIDGE CARBONDALE TELLURIDE GARDEN CITY LAFAYETTE LAKEWOOD LOG LANE VILLAGE ASPEN AVON GUNNISON PENROSE MOFFAT RIFLE IDAHO SPRINGS NORTHGLENN CORTEZ OAK CREEK PAGOSA SPRINGS WALSENBURG

13 AVONDALE DUMONT GLENWOOD SPRINGS BOONE EDGEWATER GLENDALE HENDERSON LEADVILLE RIDGWAY BRECKENRIDGE COMMERCE CITY CRESTED BUTTE FLORENCE MONTROSE PARACHUTE SALIDA TABERNASH BAILEY SAN LUIS ALMA CENTRAL CITY FAIRPLAY EDWARDS HARTSEL LONGMONT NEDERLAND PALMER LAKE ANTONITO BASALT CANON CITY COLORADO CITY

14 EMPIRE ENGLEWOOD LYONS MANCOS DE BEQUE EAGLE EVERGREEN FEDERAL HEIGHTS FRISCO GEORGETOWN LITTLETON RYE SEDGWICK SILVERTHORNE SILVERTON BERTHOUD BLACK HAWK CENTER DILLON FLORISSANT FORT GARLAND FRASER LOUISVILLE MANITOU SPRINGS PALISADE ROCKY FORD SAGUACHE ALAMOSA BEULAH BLANCA BUENA VISTA

15 CASCADE DIVIDE HAYDEN HESPERUS LAKE GEORGE MONTEZUMA MOUNTAIN VIEW OPHIR SAN PABLO SILT VILLA GROVE BOND CHAMA COMO CRAIG DOWNIEVILLE GOLDEN GYPSUM JEFFERSON KEYSTONE NEW CASTLE NIWOT NORWOOD SILVER PLUME SNOWMASS WATKINS WINTER PARK Total 2,