July Ignites Cannabis Sales in Michigan: $275M in Revenue Marks an Unprecedented Success
Michigan’s cannabis industry is on fire, smashing records in July. According to data from the Cannabis Regulatory Agency (CRA), combined sales reached a staggering $275 million. That’s not all – adult-use sales alone skyrocketed to over $270 million, marking an impressive 43.3% surge compared to June of this year. It’s clear that the demand for cannabis in Michigan is stronger than ever before, and the industry shows no signs of slowing down.
The cannabis industry in Michigan is experiencing remarkable growth, with projections indicating sales of around $3 billion this year.
This impressive figure would place Michigan alongside California as the only states to achieve such a milestone in annual cannabis sales, as reported by MI Tech News. The potential economic impact of this achievement is undoubtedly significant for the state’s economy.
Through July, adult-use sales in the state neared $1.6 billion, according to CRA data.
In just seven months, Michigan’s dispensaries experienced an exceptional surge in cannabis flower sales. The combined sales for both adult and medical use exceeded a staggering 571,000 pounds.
This impressive figure reflects a remarkable 107% increase compared to the previous year, where approximately 276,000 pounds were sold in the same time frame. These statistics, gathered from reliable CRA data, highlight the thriving cannabis market in Michigan and its growing popularity among consumers.
Through July, cannabis sales by month averaged $243.3 million.
In Michigan, flower proved to be the top choice among adult-use consumers, generating over $126,000 in sales last month.
Following closely behind were vape cartridges with an impressive $51.8 million in sales, followed by infused edibles at $27.3 million. Inhalable compound concentrates also saw substantial sales at $24.7 million, while shake and trim followed closely behind at $23.4 million.
Lastly, concentrates rounded out the list with a still impressive $15.1 million in sales. Clearly, flower remains a popular and lucrative option for cannabis enthusiasts in Michigan’s adult-use market
Michigan is truly embracing the cannabis industry, with an impressive 2,080 active licensees as of July 31. Among these are 704 retailers catering to adult-use cannabis consumers. It’s worth noting that Michigan took the progressive step of legalizing adult-use cannabis back in 2018, leading the way for a thriving market in the state.
Read more here.
If you’re looking to grow your cannabis business or retail dispensary, contact our cannabis marketing agency today. We offer THC marketing, marijuana SEO, cannabis digital marketing, and dispensary advertising.