Missouri projected to sell more than $1 billion worth or marijuana in 2023

Missouri projected to sell more than $1 billion worth or marijuana in 2023

In the first month of legal recreational marijuana sales in Missouri, the state obliterated previous records and drastically overshot most sales estimates.

While medical marijuana sales slumped in February, sales rebounded slightly in March rising to $32.7 million. Medical sales for the state are projected to exceed $300 million in 2023.

In February, Missouri dispensaries opened adult use sales with more than $8.5 million in sales over opening weekend. In all, Missouri dispensaries rang up more than $71.7 million in adult use sales in February.

In March, that number was eclipsed with adult use sales totaling $93.5 million for the month. Combined March sales totaled $126.2 million, eclipsing last month’s record-setting sales by more than $23 million, with sales growing by more than 22%.

Cumulative marijuana sales in Missouri since the first legal sale | Greenway

Since the first retail sale of medical marijuana in October 2020, Missouri dispensaries have sold a combined $871.40 million in marijuana and marijuana-infused products.

Missouri is expected to surpass the billion-dollar mark twice in 2023, once when cumulative sales reach $1 billion – potentially as early as next month, and again later this year as combined medical and recreational sales are projected to exceed the $1 billion mark by year’s end. So far, the state’s dispensaries have sold more than $$266.33 million worth of marijuana through the first quarter of the year.