Missouri Marijuana Sales Report: June 2024 shows market trends

Missouri Marijuana Sales Report: June 2024 shows market trends

 

The state of Missouri has again revised its marijuana sales reporting format, now displaying figures to two decimal places once more.

This change has slightly adjusted the total sales numbers for months and years, offering a more precise view of the market dynamics.

2023 annual sales were originally reported as $1,338,40 million – that number has been adjusted to $1,338.34. While the changes are small individually, collectively they do have impact and it is a welcome change to revert to more precise data like we saw in medical marijuana sales reporting.

In June 2024, Missouri’s marijuana market saw total sales of $119.58 million, a slight decrease (-3.33%) from May’s $123.65 million.

Missouri saw $14.64 million in medical marijuana sales, the lowest mark in three years and the first time since April 2021 that medical sales dipped below $15 million in a single month, despite patient numbers beginning to climb since January of this year.

Retailers also brought in $104.94 million in recreational sales in June, earning a top 3 spot for the year and a op 4 sales mark since the launch of adult use sales in February 2023.

Missouri Marijuana Sales | Greenway

Monthly Sales Data for 2024:

   
  • January 2024: $109.76 million (Medical: $15.00 million, Recreational: $94.76 million)
  • February 2024: $113.40 million (Medical: $15.07 million, Recreational: $98.33 million)
  • March 2024: $124.71 million (Medical: $16.03 million, Recreational: $108.68 million)
  • April 2024: $120.05 million (Medical: $15.47 million, Recreational: $104.58 million)
  • May 2024: $123.65 million (Medical: $15.50 million, Recreational: $108.15 million)
  • June 2024: $119.58 million (Medical: $14.64 million, Recreational: $104.94 million)

Quarterly Sales Data for 2024:

  • Q1 2024: $347.87 million (Medical: $46.10 million, Recreational: $301.77 million)
  • Q2 2024: $363.28 million (Medical: $45.61 million, Recreational: $317.67 million)

Annual Sales Data for 2024 (up to June):

  • Total: $711.15 million (Medical: $91.71 million, Recreational: $619.44 million)

Missouri’s marijuana market, overall, continues to thrive.

It’s important to remember that as while we may see total dollar sales trend downward in the coming months, the total tickets and number of items may trend up.

Despite a downtrend in the medical sales, more and more Missourians and out of state consumers are renewing or signing up for medical marijuana certifications.

While recreational sales remain the primary driver of the market’s strength, there will be more fluctuation as the summer curtails and fall begins.

Looking ahead, industry experts anticipate a further decline in sales figures. This is attributed to several factors, including an expected surge in discounted products as brands attempt to move existing stock ahead of new packaging guidelines. These guidelines mandate the removal, repackaging, or disposal of non-compliant items, adding pressure on retailers to clear their shelves swiftly.