In this article about New Jersey cannabis statistics and facts, we have broken down everything you need to know about the market, consumers, news, and important details. This page is evergreen, meaning that we will keep it updated and stocked with the key facts, data, and information as the market develops and matures. Be sure to bookmark this page for more updates.
New Jersey’s Cannabis Regulatory Commission runs a website where you may get up-to-date information about the state’s marijuana legislation. On the CRC website, you can find information about the rules for cannabis, upcoming commission meetings, and possible opportunities the new industry might bring.
Aside from the website, various online sources can keep you updated about new developments in the New Jersey cannabis laws, including
Cannaspire also provides a summary of New Jersey cannabis state updates and updates for other states. You can subscribe by clicking here.
As of March 2022, 29% of New Jersey municipalities have embraced the cannabis industry after 35 towns that had previously banned all cannabis businesses approved legislation allowing at least one type of licensed cannabis business to operate inside their boundaries. 22 municipalities that previously prohibited all legal marijuana businesses now allow retail sales, 3 towns that previously authorized certain cannabis usage but not retail outlets have later approved retail, and 10 towns that previously completely prohibited cannabis have legalized certain components of the business but not retail outlets.
Source: USA TODAY NETWORK
A conservative estimate puts the number of prospective recreational consumers at around 800,000. Considering the entire population of New Jersey, the population over 21, and the usage rates in other states, it is predicted that about 12% of New Jerseyans over 21 may be cannabis users.
There are approximately 130,000 patients registered in the New Jersey Medical Cannabis Program as of April 2022.
According to the projections of the New Jersey Cannabis Regulatory Commission, the demand for medicinal marijuana will total 100,000 pounds over the course of a year, while the potential demand from recreational marijuana users will be around 260,000 pounds each year.
According to the New Jersey Cannabis Regulatory Commission, it is estimated that there will be approximately 800,000 “tourists,” or potential customers from other states, looking to purchase recreational marijuana in the state. These customers could be traveling to New Jersey either from neighboring states or as tourists.
The drug war in New Jersey cost at least $11.6 billion over the course of ten years, which works out to an annualized average of $1.2 billion. The state spent $5.1 billion on arresting people, $2.2 billion on prosecuting individuals, and $4.3 billion on incarcerating people.
Source: New Jersey Policy Perspective
Between 2010 and 2015, New Jersey’s adult cannabis arrests changed little. Between 2010 and 2015, adult arrests rose from 21,884 to 24,118. In 2016, there were 32,066 arrests, while in 2017 there were 34,536. Between 2010 and 2019, overall arrests rose by 40%.
More than 362,000 marijuana and hashish cases have been removed from court records in New Jersey since the Marijuana Decriminalization Law went into effect on July 1, 2021. After having their records wiped, more than 1,200 people have been granted early termination from their probation terms.
Source: New Jersey Courts
Governor Philip D. Murphy’s proposed budget for the fiscal year 2023 projects revenues of $19 million within a total budget of over $49 billion. In 2019, when the question of whether or not to legalize marijuana for recreational use was still up in the air, he anticipated that the industry would bring in around $60 million.
According to MJBizDaily’s projections, the annual sales of recreational marijuana in the state of New Jersey will increase from $625 million to $775 million in 2022, and then they are set to exceed $2 billion by 2025 or 2026.
As of April 2022, there are 968 physicians registered with the medicinal marijuana program in the state of New Jersey.
When it comes to the legality of selling CBD products, there are several factors to consider, including how products will be used and how they will be branded. Find out more about the FDA’s regulations by visiting their website. As CBD products are derived from hemp, they are subject to the Federal Food, Drug, and Cosmetic Act of the United States Food and Drug Administration (FDA).
To start a CBD business in New Jersey, you must first complete a comprehensive application procedure with the New Jersey Department of Agriculture (NJDA) and sign a Processor/Handler Licensing Agreement if you want to process or handle hemp products in the state.
Two payments are required to open a medicinal dispensary in the state of New Jersey; the first payment is $2,000, and the second payment is $18,000. If the license is not granted, the payment of $18,000 may be refunded.
Sales surpassed $24 million in the first month since legal recreational sales started in the state on April 21, 2022. The total amount of money made from the sale of marijuana was $24,201,875.38 and there were 212,433 transactions. The weekly sales average was approximately $5 million.
30,000 to 40,000 new jobs may be created in the New Jersey cannabis industry. This is based on the statistics that show that for every million dollars’ worth of cannabis that is sold in a state once it has been legalized, 14–18 new jobs are created.
Here are some of the dispensaries currently open in the state of New Jersey and their revenue:
To start a dispensary in New Jersey, the state requires a Class 5 Cannabis Retailer license. This enables retail sales of recreational marijuana. Applicants may also apply for a temporary conditional license, which permits a business to engage as a cannabis retailer while satisfying full licensing requirements. An applicant may apply for an annual license if they meet all requirements.
In New Jersey, you will need to get a business license if you want to open a dispensary. Before you apply, you should look into the rules for cannabis businesses in the city where you want to open your business and see if you qualify as a priority applicant. Check off everything on the pre-application checklist, and read the application guide.
In order to apply for a dispensary license in New Jersey, applicants are required to create at least one account on the application submission portal maintained by the Commission. Also, people who want to get a license have to send all of the information and forms that the Notice of Application requires through the online application portal.
Get a Class 1 Cannabis Cultivator license if you want to become a cannabis grower in New Jersey. A grower license will be given to a person or business that grows or cultivates cannabis to sell to other growers, manufacturers, wholesalers, or retailers, but not to direct customers.
On April 21, 2022, dispensaries opened in the state of New Jersey, allowing adults to purchase marijuana for recreational use. Consumers in the state can now legally buy up to an ounce of marijuana per transaction if they want to use it for recreational purposes.
An effective New Jersey marijuana business plan must contain the following elements:
The cost of opening a dispensary in New Jersey includes:
Type of Fee
Application Submission Fee
Unless the Commission specifies otherwise, all fees are nonrefundable.
Patients and adults of legal age may purchase cannabis and cannabis products at any of the approved dispensaries in New Jersey that are listed on this website. Take note that some establishments only sell medicinal cannabis and cannabis products.
Those are all the important New Jersey Cannabis stats, facts, and data for now. Hopefully, this has helped you with whatever information you are gathering. What are your thoughts on the New Jersey market? Let us know by sending us a message. If you are interested in learning more about the cannabis program in the state of New Jersey, you can learn more by visiting this post. If you’d like to keep up-to-date with the critical details of the New Jersey market, business opportunities, and legal updates, please subscribe to our newsletter below.