Marijuana sales in Missouri jumped 13% to end the year in 2022
Missouri ended the calendar year 2022 by setting retail sales records for marijuana for six consecutive months
With record sales of $35.56 million in November, Missouri marijuana operators looked to end the year on a high note, but the sales numbers put up by dispensaries throughout the state to end 2022 far exceeded projections.
Revenues jumped 13.19% over a record-setting November, with dispensaries state-wide combining to bring in nearly $5 million more than the month prior.
December sales jumped to $40.25 million for the month.
Not only are the December sales numbers a new monthly record, it also marks the first time Missouri has surpassed the $40 million mark in sales for a single month.
Marijuana sales in Missouri end the calendar year at $390.23, averaging $32.52 million per month in sales over the year.
Original projections for 2022 anticipated $360 million in legal marijuana sales in the state.
While Missouri was all but certain to eclipse that mark, the sudden surge in sales in the final month of the year propelled totals to exceed projections for the year by more than 8%.
In total, Missourians have purchased more than $605.31 million worth of medical marijuana since October 17, 2020.
With adult use sales set to begin in February, BDSA, one of the country’s leading data analytics firms tracking marijuana markets, projects combined sales to exceed $700 million in 2023, that would require Missouri dispensaries to average roughly 45% per month in sales than was sold in December.
January may be the best litmus test for that estimate. January will be the state’s final month of medical-only marijuana sales – if the strength of December endures the numbers should be well within reach, but if medical numbers dip back toward the $35 million average that ended the second half of 2022, that may cause sales numbers to more closely align with more conservative estimates that place combined sales between $500 and 600 million for 2023.
Missouri dispensaries will need to average a combined $58.3 million in marijuana sales monthly to meet the $700 million mark in 2023.