Nearly half – 47% – of all adult-use cannabis licensees awarded annually in New Jersey are majority minority-owned businesses, with 44% issued to majority women-owned or majority disabled veteran-owned, according to state Cannabis Regulatory Commission (CRC) data.
The agency notes that while just 10% of businesses in the state are Black-owned, 17% of cannabis licenses went to Black-owned entities and 13% of cannabis licenses were awarded to Asian-owned businesses despite them comprising only 10% of state businesses.
As of November 2025, there were 338 cannabis business licenses and permits currently in operation: 251 for adult-use (including expanded Alternative Treatment Centers) and 87 for medical purposes, according to the CRC. During the first three quarters of 2024, the adult-use market generated $722,921,233 while the medical cannabis market generated $66,927,020 during the same period. Overall, the state’s cannabis industry generated $43,290,543 in tax revenue and collected $2,248,270 in social equity excise fees.
Flower was the top-selling product in New Jersey last year, accounting for just over 41% of the market. Vape cartridges ranked second, making up 29%, while edibles represented 14% of sales. The remaining 17% of the market consisted of pre-rolls, concentrates, shake and trim, capsules, pills, lotions, creams, and tinctures, according to the CRC.
According to the CRC, municipalities in the state are still slow to allow industry operations with just 206 of the state’s 564 municipalities (36%) allowing at least one class of cannabis business.
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