Missouri topped the $30 million sales mark for the fourth consecutive month
Retail sales of marijuana in Missouri may have plateaued, for the moment.
While the total number of patients increased by nearly 3,000 in June, the number of new patient applications fell for the third consecutive month after a historic number of applicants in March. Even as those numbers slip from an all-time high, June’s patient application numbers are still over 1,000 greater than the ~10,000 monthly average between May 2021 and March 2022.
Over the same 3 month period that saw new patient application numbers slip, patient renewals have climbed significantly. In February 2022, the Department of Health and Senior Services Section for Medical Marijuana Regulation received 5,200 renewal applications. That number has grown steadily each month since, hitting 8,156 in June. Missouri shows 187,018 active patients at the end of the month.
In June, Missouri dispensaries tallied $30.94 million in sales of medical marijuana products. This marks the fourth consecutive month of plus $30 million sales.
Through Q1 of 2022, retail medical marijuana sales totaled $83.96 million, averaging roughly $27.99 million per month. In Q2, retail sales have increased averaging $31.35 million and bringing in $94.05 million in just three months. Year-to-date for 2022, retail sales of medical marijuana in Missouri have totaled over $178 million. Putting the state just in line with $360 million annual projections from BDSA’s 2022 Market Forecast.
Cumulative sales for the program now total $393.09 million since the program’s first retail sales in October 2020.
The verification of signatures collected for the Legal Missouri 2022 Adult-Use IP should be completed shortly, with that, expect to see an increased presence and stumping to encourage pro-adult use voters to get to the polls in November. Polls show Missouri voters are in favor of adult-use legalization, with over 60% of respondents saying they are in favor of legalization.
Annual sales projections for marijuana exceed $650 million with the infusion of adult-use customers into the Missouri market.
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