Marijuana seems to be all the rage in Alaska. Although recreational marijuana was legalized in Alaska in 2014, when Measure 2 passed with 53.2% of the votes, it still continues to be demanded and faces steady growth.
The speed at which the industry developed is almost unrealistic. Due to estimations, the recreational marijuana industry has grown 524% since 2016, thus making it a leader in the agriculture sector.
Even during COVID-19 restrictions, when almost all the fields were at a standstill, Alaska’s cannabis market continued to grow registering an unprecedented 73 new jobs. Surely, it was less compared to the results of the previous years, yet for 2019 and 2020 it was still an astonishing number.
Moreover, the marijuana industry is predicted to develop and generate approximately a 78% rise from 2020-2030, creating over 650 new job vacancies. According to Gov. Mike Dunleavy, marijuana tax collections have risen dramatically, tripling since 2019.
At present, there are more than 150 retail shops in the state, and this number has a tendency to increase, due to the record applications for marijuana retailer’s licenses.
As to what is the most common way of consuming cannabis, the state’s health department has provided a report, stating that about 86% is smoking. However, consumers are looking for other consumption options. For instance, edible consumption has been in demand, too.
In hindsight, marijuana laws have always been laxer in Alaska than in any other state. Medical marijuana has been legal for decades. Patients have been able to grow their own marijuana at their homes.
As a final note, recreational marijuana still faces an increase in Alaska and the market is predicted to have constant growth, becoming a leader in the state’s agriculture sector.