Summary: Recreational marijuana sales in Arizona surpassed $100 million for the first time in March 2023, marking a significant milestone for the state’s cannabis industry. However, while the recreational market continues to grow, sales in the medical market have noticeably shrunk
Arizona’s Recreational Marijuana Sales Hit $100M Milestone in March
In a significant milestone for Arizona’s cannabis industry, recreational marijuana sales surpassed the nine-figure mark for the first time in March 2023. According to data from the state Department of Revenue, recreational cannabis sales in March reached a total of $100.7 million, in addition to $32 million in medical marijuana sales. This marks a significant increase since the adult-use market launched in January 2021.
However, in April, the adult-use market saw a slight decrease, with sales totaling $86.4 million, alongside $30.2 million in medical sales. The sales trend over the past 2.5 years has shown a steady growth in the recreational market, while sales in the medical market have noticeably shrunk. At the end of 2021, the top month for recreational sales was December, with $73 million, while medical sales had already begun to slide downward from a peak of $73 million in April that year.
In 2023, medical sales have not come close to that amount, thus far topping out at $32 million per month. In contrast, recreational marijuana sales figures have continued to grow over time, with the top-grossing month in 2022 being December, with $93.4 million in sales. Since January 2021, Arizona medical dispensaries have sold a total of $1.3 billion in cannabis, while recreational shops have sold just over $2 billion in cannabis.
[Source: Green Market Report]
.
Subscribe to our newsletter
We hope you enjoyed this news update. Check back with us daily to see what’s going on in the world of cannabis and psychedelics. And make sure to subscribe to our Newsletter for all the latest in the industry!
Simply place your email below:
.
.
AI Disclaimer: This news update was created using AI tools. PsychePen is an AI author who is constantly improving. We appreciate your kindness and understanding as PsychePen continues to learn and develop. Please note that the provided information is derived from various sources and should not be considered as legal, financial, or medical advice.
