New Jersey is set to become one of the fastest-growing cannabis markets in the U.S., with projected sales expected to reach $2 billion by 2027, according to data from LeafLink, a cannabis wholesale platform.

The state’s cannabis industry is expanding rapidly, with over 1,500 new licenses anticipated to be issued by mid-2026. These licenses will cover various sectors, including:

270 cultivation licenses

Over 200 manufacturing licenses

600+ dispensary licenses

More than 400 microbusiness licenses

LeafLink highlights that most licenses will be issued to independent businesses, making the market highly diverse and competitive. This approach will create more opportunities for small businesses to thrive.

With the increasing number of dispensaries and independent operators, New Jersey is on track to become a major player in the U.S. cannabis industry, contributing significantly to the nation’s overall cannabis sales growth in the coming years.