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oregon cannabis market size

Oregon’s recreational cannabis sales value forecast U.S. 2018-2024

Forecast of recreational marijuana sales value in Oregon from 2018 to 2024 (in million U.S. dollars)

Sales value in million U.S. dollars

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United States (Oregon)

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Sales of legal adult-use cannabis are expected to increase greatly in the state of Oregon between 2018 and 2024.

Oregon cannabis market size

In 2015, Oregon Governor Kate Brown signed an emergency bill declaring cannabis sales legal to recreational users from dispensaries starting October 1, 2015, during an “early sales” period, through the end of 2016. Additional legislation signed into law by Governor Brown in March 2016 allowed the sale of medical and recreational cannabis from the same outlets. Effective January 1, 2017, cannabis can be sold for recreational use only by businesses that have obtained a “recreational license” from the OLCC, such businesses can also sell for medical use.

Applications

Through August 2020, there were 4,069 submitted applications and 2,262 licensed recreational cannabis businesses in Oregon, including 1,144 producers, 249 processors, 172 wholesalers, 675 retailers, 21 laboratories and 1 research facility.

Market

In Oregon where concentrates and edibles were only allowed for the first time in the adult-use channel in July 2016, the transformation in category happened almost overnight.

Oregon had an established medical cannabis industry before the legalization of recreational cannabis, and early adult-use sales through existing dispensaries took place before the first rec-only retailers were licensed, which explains the relatively quick turnaround time.

Oregon cannabis market retail sales grew from $643 million in 2018 to about $800 million in 2019.

In May 2020, the state hit $103 million in sales, breaking $100 million in a single month for the first time since recreational cannabis sales began. In June and July, the state reported $100 million and $106 million in total sales correspondingly.

While flower sales remain dominant in Oregon, flower contributed about 60% of sales year-to-date, as growth in other categories including concentrates, edibles and topicals all outpaced flower.

It is projected Oregon could be achieving $1 billion in recreational and medical cannabis sales in 2020.

Taxes

The permanent, 17-percent tax on the sales price of all recreational cannabis products will take effect once a facility is licensed. Cities and counties can decide whether or not to adopt an additional local tax of up to 3 percent on retail sales.

We offer “70% ready to go” Cannabis Financial Models and Cannabis Business Plan Templates for a growing, processing, retail and vertically integrated cannabis business in Oregon.

Oregon cannabis market could be achieving $1 billion in recreational and medical sales in 2020 and reach the 5 percentage of the whole legal market to 2025. ]]>