State Profile: Arizona
2016 Legal Cannabis Market
On November 8, 2016, Arizona was the only state with a legalization measure during the 2016 election that did not pass. The failure of the Arizona’s Marijuana Legalization Initiative (Proposition 205) was a notable loss for the cannabis industry on a day which saw the industry’s biggest electoral victories. Passage of Prop. 205 would have provided a symbolic victory for cannabis in the historically socially conservative state, while creating a market with an attractive structure for investors and entrepreneurs. However, with the measure’s failure, Arizona will remain a highly competitive medical-only market for the foreseeable future.
This Arcview Market Research report, co-produced with New Frontier Data, outlines how the following factors will affect Arizona’s role in the industry.
1. Arizona’s Hot Climate
2. Growth in Competition in the Medical Market
3. Market Consolidation
4. Cannabis Diversion into Arizona
5. Big Pharma
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