Cannabis Growers Survey | cannabis media

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Cannabiz Media has partnered with Wells Fargo’s equity research team to deliver one of the most comprehensive information programs available to cannabis growers. We reached out to thousands of growers to create a list of around 500 licensed cannabis growers across six states. They were reached via email and telephone surveys.

The key takeaway for Wells Fargo is that “this recovery will take longer” and has implications for the hydroponics sector for the second half of 2022. Wells Fargo has downgraded Scotts Miracle Grow shares to Equal Weight and lowered price targets for Grow Generation and Hydrofarm Holdings group.

• Falling prices cause the greatest frustration among growers
• 62% of growers have a “bad” or “awful” feeling about their current markets.
• 27% of those surveyed said they were planning a partial or full exit.
• Growers said they have plans to buy soil (61%) and nutrients (73%), but only 32% have plans to buy lights.
• Sentiment is low across the board, with some variation from state to state.
• Most growers are not expecting any improvement in the short term.

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Detailed results

We’ve highlighted some of the 129 exhibits from the full report that focus on sentiment, likelihood of exit and top causes of frustration. You can download the entire report here.

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methodology

We conducted a survey program with thousands of growers and ended up connecting with 490 licensed cannabis growers in six major US states including California, Colorado, Michigan, Oklahoma, Oregon and Washington.

The survey was conducted via email and direct phone call over the course of January through May 2022 and across a variety of grow environments (indoor, outdoor, greenhouse, etc.) and grow sizes (several hundred square feet to over 100,000 square feet).

Of the 490 responses received, 145 were from California, 17 from Colorado, six from Michigan, 209 from Oklahoma, 51 from Oregon and 62 from Washington – representative of today’s largest cannabis markets.

You can download the entire report here.

Next Steps

We’ll continue to survey growers over the coming months to see how their prospects and profitability are changing. This first survey provides a solid foundation for future longitudinal studies.

author

Ed Keating is co-founder of Cannabiz Media and oversees the company’s data research and government relations efforts. He has spent his career working with and advising information companies on compliance issues. Ed has led product, marketing and sales while overseeing complex, multi-jurisdictional product lines in the securities, corporate, UCC, security, environmental and human resources markets.

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‍Cannacurio is a weekly column from Cannabiz Media featuring insights from the most comprehensive licensing data platform. Check out Cannacurio’s posts and podcasts for the latest updates and information.