Thursday, September 18, 2025
Weed Deep Dive
  • Politics
  • Lifestyle
  • Business
  • Medical
  • Shop
No Result
View All Result
Weed Deep Dive
  • Politics
  • Lifestyle
  • Business
  • Medical
  • Shop
No Result
View All Result
Weed Deep Dive
No Result
View All Result

Michigan Passes $10 Billion In Cannabis Sales

Keegan MacDonald by Keegan MacDonald
January 20, 2025
in Business, Featured
136
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter
Views: 2,683

Michigan’s adult-use cannabis market hit new heights in 2024, recording $3.27 billion in sales, surpassing the $3 billion mark for the first time, according to the Michigan Cannabis Regulatory Agency (CRA). This marks a 9.9% increase over 2023’s $2.98 billion, pushing cumulative adult-use sales past $10.2 billion since the market launched in December 2019.

Despite the record figures, the market’s growth is showing signs of deceleration. The 9.9% year-over-year growth in 2024 pales in comparison to the 46% surge in 2023 and 55% in 2022. The slowdown can largely be attributed to falling retail prices. The average price for adult-use flower dropped to an all-time low of $69.20 per ounce in December 2024, with the year’s average price of $82.50 representing a 10.3% decrease from 2023 and a staggering 35% drop from 2022.

Michigan’s dispensaries offset these price declines with record demand, selling over 1.1 million pounds of adult-use flower in 2024—a 17% increase from 2023 and more than double the volume sold in 2022. August was the most lucrative month, with sales exceeding $294.1 million, while December sales fell slightly below average at $264.7 million, marking the first year Michigan failed to set a record for December sales.

The state’s success comes even as competition increases. Ohio launched its adult-use cannabis market in August 2024, but Michigan consumers remained loyal, driving strong sales throughout the year.

However, Michigan’s flourishing adult-use market has significantly impacted its medical cannabis sector. Medical sales plummeted to $18 million in 2024, a mere 0.55% of the overall market, down from a peak of $481 million in 2021. The decline reflects a shift as adult-use prices now undercut medical cannabis pricing.

Since its inception, Michigan’s combined adult-use and medical markets have generated over $11.5 billion in sales, cementing the state as the nation’s second-largest cannabis market behind California. As Michigan’s market matures, retailers are navigating a landscape of increased competition and price sensitivity, signaling a new phase for the industry.

Read the whole article from CannabisBusinessTimes here.

Previous Post

Turns out people are more active after they consume marijuana

Next Post

Cannabis Revenue In Arkansas To Be Used To Fund Free Breakfast and Lunch For Students

Keegan MacDonald

Keegan MacDonald

Related Posts

Cannabis Tax Cuts coming to California

Cannabis Tax Cuts coming to California

by Graham Cooper
September 16, 2025
0

There's no bigger issue within the marijuana market than too high taxes. That's especially the case in California, where rates...

House of Reps Voted to Increase Waivers for Recruits Who Smoke Cannabis

House of Reps Voted to Increase Waivers for Recruits Who Smoke Cannabis

by Keegan MacDonald
September 16, 2025
0

The U.S. House of Representatives has approved a measure that would broaden opportunities for military recruits who test positive for...

Weed Beverages sales were over a Billion last year

Weed Beverages sales were over a Billion last year

by Graham Cooper
September 16, 2025
0

Some huge numbers are coming from the youngest marijuana market in the country: beverages. It seems the canned beverage has...

California and New York Cannabis Brands Fight For the First MJBowl National Champion Award

California and New York Cannabis Brands Fight For the First MJBowl National Champion Award

by Keegan MacDonald
September 11, 2025
0

The cannabis industry will crown its first national champions this December at the debut of MJBowl, a bi-coastal competition uniting...

Next Post
Cannabis Revenue In Arkansas To Be Used To Fund Free Breakfast and Lunch For Students

Cannabis Revenue In Arkansas To Be Used To Fund Free Breakfast and Lunch For Students

Latest

Cannabis Tax Cuts coming to California

Cannabis Tax Cuts coming to California

September 16, 2025
House of Reps Voted to Increase Waivers for Recruits Who Smoke Cannabis

House of Reps Voted to Increase Waivers for Recruits Who Smoke Cannabis

September 16, 2025
Weed Beverages sales were over a Billion last year

Weed Beverages sales were over a Billion last year

September 16, 2025
ADVERTISEMENT
Sign up for the WDD Newsletter

Categories

  • Business
  • Featured
  • Lifestyle
  • Medical
  • Politics
  • Uncategorized

Recent Posts

  • Cannabis Tax Cuts coming to California
  • House of Reps Voted to Increase Waivers for Recruits Who Smoke Cannabis

Browse by Tag

cannabis covid marijuana ban ncaa

AFFILIATES

© Weed Deep DIve. All rights reserved.

No Result
View All Result
  • Politics
  • Business
  • Lifestyle
  • Medical
  • Shop

© Weed Deep DIve. All rights reserved.