Massachusetts Adult-Use Cannabis Reaches Nearly $4 Billion in 2022

Massachusetts Adult-Use Cannabis Reaches Nearly Billion in 2022
High Times

The Massachusetts CCC’s report shows that between Jan. 1 and Dec. 18, 2022, the state collected $1.42 billion in adult-use sales. In a breakdown of sales by month, the state collected a fairly steady amount of sales, the highest being $132.4 million in July and $130.8 million in August, and the lowest with $110.1 million in February and only $73 million in December (since recording ended on Dec. 18, this sales data is lower). The last week of sales by day leading up to Dec. 25 were notably high, starting at $3.2 million on Monday, Dec. 12 reaching a height of $5.1 million on Saturday, Dec. 17, and dropping to $4 million on Dec. 18. Consumers mainly purchased flower during this week specifically, with a total of over $11 million, followed by vape-related products at $6 million, and pre-rolls and edibles nearly the same, both around $4 million each. Massachusetts legalized adult-use cannabis in November 2018, and since then the state has collected $3.9 billion in total gross sales. It first reached the $1 billion mark in October 2020, then $2 billion in July 2021, and $3 billion in May 2022. Medical cannabis sales in 2022 during the same period reached $260.2 million, although a gradual decline is seen after the highest medical sales months of March and April, which collected $24.7 million and $24.4 million respectively. The Massachusetts CCC’s graph generally shows a decrease in sales from that point, down to $20.6 million in November, and finally $12.1 million in December. Gross medical cannabis sales just hit $929.6 million this December, which still reflects steady overall growth since November 2018. Although medical cannabis went live in Massachusetts in January 2013, sales data prior to November 2018 is not available prior to when the CCC took control over the Medical…

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Source : Massachusetts Adult-Use Cannabis Reaches Nearly Billion in 2022

reposted by Cannabis News World

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