Despite a dismal municipal opt-in rate since coming on board with commercial adult-use cannabis sales nearly two years ago, Maine’s retail market has shown consistent month-over-month growth throughout 2022.
In August, licensed dispensaries recorded more than $17 million in adult-use sales, representing 4.1% growth over July and a staggering 68% increase from August 2021 sales, according to the state’s Office of Cannabis Policy (OCP). Last month featured the largest sales total since Maine launched adult-use sales in October 2020.
Roughly 59% of the $17 million in adult-use sales last month came from usable cannabis (flowers, prerolls, shake/trim), while nearly 23% came from concentrates and 18% came from infused products, according to OCP.
The average retail price for dry flower was $248 per ounce in August, a slight dip from the $278-per-ounce average for the calendar year and a whole so far. In 2021, dry flower averaged $361 an ounce, according to OCP.
So far in 2022, Maine’s adult-use retailers have sold nearly $98.3 million in cannabis, a 120% increase compared to the same eight-month period from last year. Last year, August represented the largest sales month with $10.1 million in transactions.
The state’s market growth comes despite roughly 10% of municipalities in Maine opting in to allow licensed retailers to set up shop in their jurisdictions. Currently, only 52 towns, cities and plantations among approximately 500 municipalities in the state have a retail footprint, according to OCP.
With about 1.3 million residents in Maine, the state’s cannabis sales lag behind Montana, which has roughly 1.1 million residents. Launching its adult-use retail market in January 2022, Montana is already ahead of Maine with $19.8 million in sales this August