Study on Missouri Cannabis suggests increasing market competition

COLUMBIA, Mo. (KMIZ)

The Missouri Department of Health and Senior Services released a new survey Thursday examining the state's cannabis market over the past year, with the study reporting room for growth.

The study, conducted by New York-based Cannabis Public Policy Consulting LLC, used data from 1,200 cannabis consumers over the past 35 months to observe market dynamics, purchasing behaviors and demand.

The group found that around 93% of consumers participate in the legal marijuana market. The group also found that consumers tend to prioritize price and potency of the cannabis over the legal status of the seller. Medical cannabis patients also tended to spend more than other customers.

In their recommendations for future policy and to increase market competition, the group suggests removing cannabis licensing requirements by population and instead having licenses be given by consumer demand to increase competition. Currently, the Missouri Constitution allows 24 dispensary licenses per district.

The group also recommends that cannabis alternatives like CBD and THCA be monitored. Due to low demand, legislative action isn't suggested.

The group also suggests grants, tax breaks and faster permitting to encourage cannabis businesses to open in underserved communities.

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