Missouri Cannabis Sales

May, 2024
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Cannabis Market Data

Overview

Missouri's cannabis market has been experiencing a nuanced trajectory in terms of growth and pricing. As of May 2024, the average item price in Missouri was recorded at $28.44, showing a slight decrease from the previous month's $29.04. This pricing trend indicates a stabilization in the market, despite a minor month-over-month sales decline of 1.1%. Year-over-year, the market has seen a slight contraction in sales by 1.8%, although unit sales have increased by 15.8%, suggesting a growing consumer base opting for lower-priced items.

The state's total cannabis sales in May 2024 amounted to approximately $118.78 million, reflecting the market's substantial size. Over the past 24 months, sales have shown fluctuations with notable peaks and troughs, such as a significant increase in March 2023 followed by a gradual decline. This volatility highlights the dynamic nature of the cannabis market in Missouri, influenced by regulatory changes, consumer preferences, and economic factors.

$118.78M

May, 2024

Sales

-1.8 %

Year Over Year

Growth

Data Snapshot Jun 03, 2024

Market Comparison

When comparing Missouri to other states, its market dynamics offer unique insights. For instance, Missouri's average item price is significantly higher than states like Oregon ($13.88) and Washington ($12.72), but lower than New York ($36.74) and Ohio ($37.06). This pricing strategy might be impacting the overall sales volume, which, while substantial, does not reach the levels seen in states like California ($356.47 million) or Michigan ($274.05 million).

Missouri's year-over-year growth rate of -1.8% contrasts sharply with Maryland's explosive growth of 126.2%, indicating different market maturity stages and consumer adoption rates. However, Missouri's growth in unit sales suggests an expanding consumer base, which could be leveraged for future growth.

Missouri Weed Prices

Product
May, 2024
YoY
Flower (Gram)
$29.68
Flower (Eighth)
$27.89
Edible (10mg)
$17.09
Concentrate (Gram)
$35.25
Top Strain
Bubba Fett
| State | Average Item Price (May 2024) | Total Sales (May 2024) | YoY Sales Growth | |-------|-------------------------------|------------------------|------------------| | MO | $28.44 | $118.78 million | -1.8% | | CA | $20.29 | $356.47 million | -5.3% | | MD | $29.65 | $93.47 million | 126.2% | | NY | $36.74 | $42.66 million | N/A |
Data Snapshot Jun 03, 2024

Category Performance

Category
May, 2024
YoY
$
54.09
M
-6.7
%
$
27.36
M
8.9
%
$
15.82
M
-7.4
%
$
13.17
M
24.7
%
$
6.25
M
-17.3
%
$
1.17
M
-0.8
%
$
0.49
M
-16.9
%
$
0.24
M
-57.1
%

The Flower category in Missouri presents an interesting case. In May 2024, it generated around $54.09 million in sales with an average item price of $33.58, which is a decrease from the previous month. Despite a slight month-over-month sales drop of 1.4%, the category saw a 2.7% increase in unit sales, indicating a price-sensitive consumer behavior. Among the segments, 'Ground Flower' and 'CBD - Popcorn' showed remarkable year-over-year growth rates of 69.6% and 328.0% respectively, suggesting a shift towards specific product preferences within the Flower category.

| Segment | Average Item Price (May 2024) | Total Sales (May 2024) | MoM Sales Growth | YoY Sales Growth | |---------|-------------------------------|------------------------|------------------|------------------| | Ground Flower | $42.27 | $406,865 | 21.1% | 69.6% | | CBD - Popcorn | $63.35 | $78,763 | -1.1% | 328.0% | | Hybrid | $31.02 | $36,340,510 | 2.7% | -2.6% | | Indica | $31.24 | $5,130,483 | -0.4% | -16.9% |
Data Snapshot Jun 03, 2024

Top Cannabis Brands in Missouri

Market Trends

Product Category Market Share In Missouri

Monthly Cannabis Sales

Historical Cannabis Sales In Missouri

Missouri Cannabis Reports

Report
October 17, 2023

Missouri's Growing Adult Use Market

Missouri's adult-use cannabis market, initiated in February, rapidly grew to become the sixth-largest in the US with sales of $953M by September 2023. The state's cannabis prices are notably higher than the national average, with Missouri having fewer brands, indicating less competition. Despite its rapid growth, the state presents untapped opportunities, especially in the Pre-Rolls category, and businesses are advised to strategize for sustainable growth and potential future challenges.

Missouri Cannabis News

Blog
October 3, 2023

Top Selling Cannabis Brands Fuel Missouri's Thriving Market in September 2023

Missouri’s cannabis market shines bright with a total valuation of $118.6 million as of September 2023, despite a minor 0.4% dip from the previous month.
Blog
July 21, 2023

Navigating Missouri’s med to rec transition with Headset Bridge

Teal Cannabis Co., a recent adopter of Bridge, tells us why the inventory management software is so vital to their business and continued success, especially amidst Missouri’s recent med to rec transition.
Blog
February 8, 2023

Missouri's first recreational weekend

Headset examines the first weekend of recreational cannabis sales in Missouri, analyzing the growth in sales compared to historical data.
User rating
MO
Emerging

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