Massachusetts adult-use marijuana sales reach $4 billion since launch!
Since the state legalized recreational marijuana usage in November 2018, marijuana businesses in Massachusetts have raked in more than $4 billion in revenue.
According to This Week in Worcester, the Massachusetts Cannabis Control Commission (CCC) collected data from 265 retail locations and 14 delivery services as of January 22.
CCC Executive Director Shawn Collins told the media outlet, “Consumers’ demand for vetted, quality cannabis products continues robust since Massachusetts became the first East Coast state to open adult-use stores in 2018 and delivery service in 2021.”
Growth from the previous year’s $2.5 billion in sales can be attributed in part to the increase in the number of legally operating dispensaries and delivery services.
This Week in Worcester reported that in 2022, 71 stores and 7 delivery services entered the market, resulting in $1.4 billion in annual sales.
The significant gains in the market have not made Massachusetts immune to industry problems, with prices falling by as much as 50% in some areas in December when compared to the same month a year earlier.
The industry has also seen its first dispensary close since legal recreational sales began in 2018.