Missouri’s marijuana market continues to trend upward in the early months of 2024.

February saw sales climb back after marijuana sales fell to their lowest total in nearly a year in January. But March saw sales jump back into midseason form growing more than 9% over February sales, an $11.3 million increase over prior month.

Missouri dispensaries reported over $124.7 million in sales for the month, marking the highest monthly total in a year, and the second-highest monthly sales total in program history.

Cumulative marijuana sales by month | Greenway

March 2024 Sales Breakdown

In March, recreational marijuana sales surged to $108.7 million, a significant increase from February’s $98.3 million, and the highest single month total for adult use marijuana sales in Missouri history. Medical cannabis also saw growth for the second straight month, rising from $15.1 million in February to $16 million in March.

January began with sales totaling $109.8 million, which dipped by nearly 11% from December 2023, reflecting a seasonal slowdown after the holiday season. However, sales rebounded in the following months, culminating in March’s peak. Average monthly sales for the quarter stood at $115.97 million.

Cumulative marijuana sales since legalization in October 2020 have now reached approximately $2.29 billion. Sales figures represent the significant economic impact of the marijuana industry in Missouri. More than 58% of cumulative marijuana sales in Missouri are adult use only. Since February of 2023, Missouri dispensaries have sold more than $1.33 billion in recreational marijuana purchases.

Market Projections

Looking ahead, the Missouri marijuana market shows no signs of slowing down. March’s sales alone contributed an $11.3 million increase from February, with a notable 9.96% jump in total revenue. Projections for 2024 suggest that total sales could exceed $1.5 billion by year-end, according to BDSA.

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