Michigan adult-use and medical marijuana retailers generated more than $276 million in sales in July, according to the latest statistics from the Cannabis Regulatory Agency. This set a new record for the state.
Michigan Cannabis Sales Could Top $3 Billion
Legal cannabis sales in July jumped 6.1% from June, putting marijuana sales in 2023 on a $3 billion run rate. Another impressive stat from the agency is that on a day-by-day basis, sales increased by 2.7%.
The average monthly cannabis sale during the first seven months of 2023 was $243.3 million.
Medical marijuana sales accounted for $6.1 million, or roughly 2.2% of total sales, in July. In the adult-use market, flower accounted for $126,067,097 in sales, or about 46.5%, according to MJBizDaily. Furthermore, in June and July this year, Michigan’s dispensaries sold more than 571,000 pounds of adult-use and medical cannabis flower through the first seven months of the year, representing a 107% increase from about 276,000 pounds sold during the first seven months of 2022, the CRA data shows.
Joining the Top State in Cannabis Sales
If sales continue at this rate for the next five months, Michigan could join market-leading California. According to MJBiz Factbook Statistics, California is projected to ring up nearly $5.9 billion in legal recreational and medical marijuana sales in 2023.
