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California Cannabis Industry to Hit $6 Billion by 2025

Ryan Allway

November 16th, 2020

App, Exclusive, News, Top Story

California’s cannabis industry is on track to surpass $6 billion in 2025, according to BDS Analytics, which would represent a sixth of legal cannabis sales in the United States. Although Nevada and a handful of other states experienced COVID-19-related disruptions, California’s mature market has managed to weather the pandemic thus far.

Let’s take a closer look at California’s market and how ManifestSeven Holdings Corporation (CSE: MSVN) has become the glue holding it together.

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The Leading Cannabis Market

California legalized recreational cannabis on January 1, 2018 and—despite some early growing pains—has built a robust regulatory system.

Another Cannabis Sales Projection for California – Source: New Frontier Data

Cannabis sales spiked 90% on March 16 over the average daily sales when the state’s shelter-in-place orders went into effect. As an essential business, cannabis retail sales continued with a 60% increase in April and a 29% increase in June over the prior year. The North Coast—home to the Emerald Triangle—has been the epicenter for this growth.

At the same time, a more diverse customer base and evolving consumer preferences during the pandemic accelerated the transition from primarily smoked cannabis to edibles, drinks, lotions and oils. Cannabis apps and delivery services also gained in popularity as consumers side stepped brick-and-mortar retailers to avoid potential exposure to COVID-19.

These changing market conditions could persist well into next year as the pandemic persists. In addition, many analysts believe that there could be a more permanent shift toward ecommerce and delivery even after the pandemic subsides given the increased convenience of purchasing online and the brand loyalty earned over the past year.

M7 Seeks to Connect the Market

ManifestSeven aims to become the “omnichannel” in California’s nascent market by building an extensive distribution network and getting products to customers.

ManifestSeven Connects the Market – Source: Investor Presentation

The company’s frictionless supply chain normalizes the retail experience by enabling businesses to reach customers and customers to access products through its 1-800-CANNABIS brand and Weden dispensary and delivery services. Currently, the company also distributes to over 200 retail dispensary accounts, with 20+ commercial vehicles in its fleet and 12 curated brands in its portfolio.

Since its inception, the company reported revenue growth in eight of nine quarters with a 300% compound annual growth rate. It’s 88% coverage of California’s market has translated to more than 676,000 customers in its marketing database and more than 6,000 monthly calls to its flagship 1-800-CANNABIS phone line to take orders.

Click here to receive an investor presentation and corporate updates

Looking Ahead

California’s cannabis industry has continued to see strong growth despite the COVID-19 pandemic. While other states experienced disruptions, California’s robust regulatory system has kept things relatively smooth thus far.

Investors looking to capitalize on the state’s growth may want to consider ManifestSeven Holdings Corporation (CSE: MSVN), which continues to expand its seamless, compliant omnichannel across the state of California, and maintains plans to move into other markets. With its extensive distribution and existing growth rates, the newly public company is well positioned to grow shareholder value over time.

For more information, visit the company’s website or download their investor presentation.

Disclaimer

The above article is sponsored content. CannabisFN.com and CFN Media, have been hired to create awareness. Please follow the link below to view our full disclosure outlining our compensation: https://cannabisfn.com/legal-disclaimer/

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

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About CFN Media Group

CFN Enterprises Inc. (OTCQB: CNFN) owns and operates CFN Media Group, the premier agency and financial media network reaching executives, entrepreneurs and consumers worldwide. Through its proprietary content creation, video library, and distribution via www.CannabisFN.com, CFN has built an extensive database of cannabis interest, assisting many of the world’s largest cannabis firms and CBD brands to build awareness and thrive. For more information, please visit www.cfnenterprisesinc.com.

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