Michigan Cannabis Sales

Jan, 2024
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Cannabis Market Data

Overview

Michigan's cannabis market has demonstrated a notable growth trajectory over the past two years. From February 2022 to January 2024, total sales have increased from approximately $154.8 million to $242.4 million, with a peak in December 2023 at nearly $279.9 million. This growth reflects a robust year-over-year increase, with January 2024 showing a 16.9% rise compared to the same month in the previous year. Despite a slight month-over-month decline in January 2024, the overall trend indicates a consistent expansion of the market. Average item prices in Michigan have seen a decrease, from $15.27 in January 2023 to $12.22 in January 2024, suggesting that consumers are benefiting from more competitive pricing.

$242.38M

Jan, 2024

Sales

16.9 %

Year Over Year

Growth

Data Snapshot Feb 10, 2024

Market Comparison

When comparing Michigan to other states, it's evident that Michigan's market is one of the largest in terms of sales, with January 2024 sales surpassing those of states like Colorado and Massachusetts. Michigan's average item price is among the lowest, which could be a factor in the high volume of units sold (over 19.8 million in January 2024). The year-over-year growth rate in Michigan is competitive, with states like California showing a higher volume but a less significant growth rate.

Average Item Prices
Product
Jan, 2024
YoY
Flower (Gram)
$9.28
Flower (Eighth)
$17.19
Edible (10mg)
$3.00
Concentrate (Gram)
$12.92
Top Strain
Runtz
| State | Avg. Item Price (Jan 2024) | Total Sales (Jan 2024) | Total Units (Jan 2024) | |-------|---------------------------|------------------------|------------------------| | MI | $12.22 | $242.4 million | 19,836,272 | | CA | $21.43 | $332.4 million | 15,512,843 | | CO | $16.10 | $94.4 million | 5,865,996 | | IL | $32.92 | $161.6 million | 4,910,508 |
Data Snapshot Feb 10, 2024

Category Performance

Category
Jan, 2024
YoY
$
112.63
M
19.0
%
$
43.27
M
3.7
%
$
42.17
M
54.2
%
$
25.05
M
-6.4
%
$
16.99
M
19.6
%
$
0.94
M
8.0
%
$
0.79
M
5.3
%
$
0.15
M
-65.1
%

Edibles stand out as an interesting category within Michigan's cannabis market. In January 2024, edibles generated $25.05 million in sales, with gummies being the dominant segment, accounting for over $20.93 million. The average item price for edibles has decreased from $9.47 in January 2023 to $7.27 in January 2024, indicating a potential increase in accessibility or production efficiency. The top brand in the gummies segment is WYLD, with total sales of $3.01 million and an average item price of $14.96. Other notable brands include Choice and MKX Oil Company, with sales of $1.52 million and $1.42 million, respectively.

| Segment | Avg. Item Price (Jan 2024) | Total Sales (Jan 2024) | Total Units (Jan 2024) | |---------|---------------------------|------------------------|------------------------| | Gummies | $7.37 | $20.94 million | 2,842,594 | | Chocolate | $10.74 | $1.82 million | 169,068 | | Caramels, Chews, Taffy | $4.48 | $1.54 million | 343,777 |
Data Snapshot Feb 26, 2024

Top Cannabis Brands in Michigan

Market Trends

Product Category Market Share In Michigan

Monthly Cannabis Sales

Historical Cannabis Sales In Michigan

Michigan Cannabis Reports

Report
November 2, 2022

A deep dive of the Michigan cannabis market

A deep dive of the Michigan cannabis market
Report
August 11, 2021

The Michigan cannabis market : A high-level overview

This report provides a high-level overview of the Michigan adult-use and medical cannabis markets, exploring various sales and market trends from this year.

Michigan Cannabis News

Blog
April 21, 2023

A look at last year's 4/20

A recap of last year's 4/20 sales trends across US and Canada.
Blog
August 31, 2021

The top summer cannabis strains in Michigan & California

Now that summer is winding down and harvest season is around the corner, we take a look at the top cannabis strains in two different markets.
User rating
MI
Emerging

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