November sets historic sales records for Missouri’s marijuana market

Missouri’s marijuana industry reached a historic milestone in November 2024, achieving all-time highs in both total monthly sales and daily average sales.

November marijuana sales totaled $128.07 million, surpassing the previous monthly record and marking a 3.91% increase from October’s $123.25 million.

The daily sales average also reached a new peak of $4.27 million, reflecting unprecedented consumer engagement.

Breaking Down the Numbers

Recreational cannabis sales contributed $113.03 million—approximately 88.3% of the monthly total. Medical marijuana sales accounted for $15.04 million, maintaining the stable range observed throughout 2024.

November’s figures solidify Missouri’s position as a leading cannabis market, with total 2024 sales now exceeding $1.33 billion and cumulative sales since the program’s inception surpassing $3.27 billion. The shift to adult use in 2023 highlights the industry’s scale and economic impact, as it continues to drive significant contributions to the state’s economy.

Trends Driving Growth

Recreational sales have consistently driven the market since adult-use legalization in February 2023. Monthly recreational sales have exceeded $100 million since March 2024, underscoring sustained consumer demand. Medical marijuana sales, while representing a smaller portion of the market, have remained steady between $14 million and $15 million per month in 2024, following a decline in 2023 as adult-use sales expanded.

Daily sales averages throughout 2024 further illustrate the market’s stability and upward trajectory:

January: $3.54 million
February: $4.05 million
March: $4.02 million
April: $4.00 million
May: $3.99 million
June: $3.99 million
July: $3.99 million
August: $4.07 million
September: $3.91 million
October: $3.98 million
November: $4.27 million

Economic Significance and Future Outlook

The record-breaking performance in November underscores the cannabis industry’s role as a major economic force in Missouri. With cumulative sales now in the billions, the sector has established itself as a cornerstone of the state’s economy.

The market’s sustained momentum suggests continued opportunities for growth, particularly in product innovation and meeting evolving consumer preferences. While challenges such as regulatory adjustments and bottlenecks remain, Missouri’s cannabis industry is well-positioned for long-term success.

Additionally, the introduction of microbusiness licenses in the coming months provides a new avenue for localized innovation and community-focused engagement. These small-scale operators have the potential to diversify the market and further strengthen Missouri’s cannabis ecosystem.