After a rough start with cannabis sales plunging 15% to $117.3 million in January, the Illinois marijuana market has rebounded in February and March and is now on track to hit yet another record.
In April, recreational cannabis sales totaled $131.8 million, representing a 0.6% increase from the month before, as per the Illinois Department of Financial and Professional Regulation’s data. However, compared to a year ago, growth fell from 20% in March to 14.6%.
Illinois residents spent nearly $91 million on recreational marijuana products, while out-of-state visitors bought up another $40.86 in cannabis. Out-of-state purchases remained flat in April after increasing to 31% in March.
Over the past month, medical cannabis customers spent $31.8 million, representing a year-over-year and sequential drop of 10% and 0.6%, respectively.
As of April 30, Illinois had 55 licensed medical cannabis shops. Year-to-date medical cannabis sales amounted to $121.61 million, according to the Illinois Medical Cannabis Patient Program.
Taking into account both medical and adult-use sales, total cannabis sales in April grew 9% to $163.6 million.
In 2021, combined cannabis sales in Illinois totaled $1.78 billion, up 72% year-over-year. So far, in 2022, they have increased 17% compared to a year ago.
Photo: Courtesy of Erol Ahmed on Unsplash
