Missouri marijuana program reaches $2 billion at retail

Missouri marijuana program reaches $2 billion at retail

 

Missouri’s marijuana industry has surpassed a significant milestone, with cumulative sales breaking the $2 billion mark in January 2024. This landmark achievement underscores the booming market since the state’s first legal medical marijuana sale in October 2020 and the beginning of recreational sales in February of 2023.

Missouri dispensaries reported total marijuana sales of $109.80 million, with recreational sales encapsulating the bulk with $94.80 million compared to medical sales of $15.00 million. This follows a steady decrease in medical sales but a robust increase in recreational consumption since the launch of adult use sales in February of last year.

Since the launch of adult use sales, Missouri marijuana sales have not dipped below the $100 million per month mark. Looking ahead, while medical sales may continue to slide, that market should stabilize in 2024, allowing for prolonged forecasting based on accurate numbers of active patients. Additionally, Missouri’s adult use market looks to continue to thrive. If and when Kansas legalizes medical marijuana, expect a significant impact on the amount of foot traffic and daily tickets at some of the state’s most western dispensaries.

Marijuana sales by month in Missouri

Looking ahead, the addition of microbusiness marijuana licenses in 2024 could fill in gaps in some areas, but most likely will not impact the total sales numbers in a significant way.

   

As of January 2024, the cumulative program sales stood at $2.05 billion, reflecting the strength of the vibrant and growing market.

Missouri’s cannabis industry has come a long way since the initial launch of medical sales, with the market expanding to meet consumer demand and state regulations. This milestone is a testament to the industry’s resilience and growth potential, promising continued economic benefits for the state.

The achievement of surpassing $2 billion in sales marks a new chapter for Missouri’s marijuana industry, indicating a strong and sustained interest in both medical and recreational cannabis products. As the market matures, stakeholders anticipate further growth, innovation, and diversification within the sector.