In the first month of legal recreational marijuana sales in Missouri, the state obliterated previous records and drastically overshot most sales estimates.
Medical marijuana sales in Missouri fell 16.2% from in February while the patient count slipped below 200,000, but the legal marijuana market as a whole exploded.
Missouri dispensaries recorded $31.2 million in medical marijuana sales in February, down from $37.2 million in January – sliding for the second month in a row.
Most Missouri dispensaries opened adult use sales over the weekend of February 3, in an unexpected early launch. That three-day period brought in more than $12 million in combined sales, with roughly two-thirds of revenues being accounted for by recreational purchases.
That strong trend continued throughout the rest of the shortened month, with medical sales accounting for approximately 30% of total sales.
In all, Missouri dispensaries sold $71.7 million in recreational sales, while combined sales for medical and adult use totaled more than $102.9 million worth of marijuana in the month of February. Comparatively, January sales, the final month of medical-only marijuana sales in the state, totaled just over $37.23 million. February’s sales total represents an increase of 176.39% over January sales.
The single month of February now accounts for ~13.7% of the cumulative total of all marijuana purchases in Missouri since October 2020.
Since the first retail sale of medical marijuana in October 2020, Missouri dispensaries have sold a combined $744.54 million in marijuana and marijuana-infused products.
BDSA, one of the country’s leading data analytics firms tracking marijuana markets, projects combined marijuana sales in Missouri to exceed $700 million in 2023.
If Missouri dispensaries continue to perform in a similar fashion, Missouri would exceed the BDSA estimates by September.
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