The Missouri cannabis market has demonstrated a dynamic landscape with fluctuations in both sales and pricing. As of January 2024, the state reported total sales amounting to $109.34 million, with an average item price of $31.56. This reflects a slight increase in the average price from December 2023's $31.11. Despite this uptick in pricing, the market experienced a downturn in sales with a month-over-month decline of 11.3%. The total units sold in January 2024 reached approximately 3.46 million, indicating a robust consumer base.
Missouri's market has shown signs of maturity with a diverse range of products and price points. The average item price has seen a rise over the past year, suggesting a shift in consumer preferences or market dynamics. The state's cannabis industry continues to evolve, with businesses and consumers alike adapting to the changing landscape.
Year Over Year
When comparing Missouri to other markets, it's evident that the state holds a significant position. For instance, Missouri's total sales in January 2024 surpassed Nevada's $57.85 million, despite a higher average item price in Missouri. However, states like California and Michigan, with $332.43 million and $242.40 million in sales respectively, overshadow Missouri's market size.
Growth rates and pricing also vary across states. Missouri's month-over-month sales decrease contrasts with the growth seen in other markets, such as California, which experienced a month-over-month growth rate. The average item price in Missouri remains higher than in states like Oregon and Washington, where the prices are $13.82 and $13.02, respectively.