Holy smokes! Massachusetts sets record with $1.5B in marijuana sales in 2023

WORCESTER, Mass. — Adult-use marijuana establishments in Massachusetts set a new sales record in 2023, exceeding $1.56 billion, the Cannabis Control Commission announced Tuesday.

The yearly total surpassed 2022 sales by $78 million, an increase of more than 5%. This marks the sixth consecutive year of record-setting growth in adult-use cannabis sales in Massachusetts, according to the Commission spokesperson.

“This continued growth confirms that Massachusetts’ regulated marijuana industry is still a maturing market,” said Acting Chair Ava Concepcion.

The latest sales figures indicate that adult-use Marijuana Retailers and Delivery Operators generated $140.1 million in adult-use sales in December alone, surpassing record sales in August earlier in the year.

“As more retailers and delivery licensees come online, flower prices start to stabilize, and the stigma surrounding cannabis slowly dissipates—legal, tested products are becoming more accessible, affordable, and approachable than ever before, and that’s reflected in the multiple sales records licensees broke in 2023,” said Concepcion.

The first two adult-use retail stores opened on the East Coast in November 2018 and as of December 31, 2023, there are 338 Marijuana Retailers and 21 delivery businesses across the state.

Over those five years, the four highest adult-use cannabis sales months all occurred in 2023, with nine of the top 12 all-time sales months happening in 2023.

In 2023, more than 97,000 certified medical patients in Massachusetts helped account for another $225 million in sales from the 103 Medical Marijuana Treatment Centers.

The Commission says the combined total of $1.79 billion for adult-use and medical cannabis sales in Massachusetts also marks a new record for a calendar year.

As of January 28, 2024, data recorded in Metrc by Marijuana Retailers and delivery businesses that have commenced operations statewide showed that more than $5.65 billion in sales has been generated.

To continue expanding access to this still-growing industry, the Commission has recently announced that it will begin accepting applications for the fourth cohort of its Social Equity Program (SEP) starting February 5.

“The SEP, the first of its kind in the nation, is a free, statewide technical assistance and training program that creates sustainable pathways into the regulated cannabis industry for individuals most impacted by the War on Drugs, including disproportionate arrest and incarceration as the result of marijuana prohibition,” according to the Commission.

This is a developing story. Check back for updates as more information becomes available.

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