Michigan became the 10th state to legalize adult-use cannabis in November 2018 and rolled out sales Dec. 1, 2019. On the anniversary of the sales launch, Cannabis Business Times takes stock of four years of sales data in both the adult-use and medical markets to visualize the state’s path.
The picture that is painted is one of skyrocketing adult-use sales (an increase of approximately 474% from 2020 to 2023) and average monthly flower pounds sold (a leap of roughly 2,175%), alongside declining medical market sales. And perhaps not surprising to many—given the state of cannabis price declines in many U.S. markets—but still a tough pill to swallow when faced with the overall picture, is the drop in average retail flower prices, particularly in the adult-use market, where sales plummeted approximately 78% from the earliest months of the rollout.
In addition to the chart showing annual adult-use and medical retail sales totals and growth, here's a look at additional data:
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