Michigan Cannabis Sales Surge in February with Impressive Growth

March 14th, 2024 Business & Industry
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In February, Michigan's cannabis industry experienced a notable uptick, with total sales reaching $261.1 million, marking an almost 10% increase from January's $242.8 million. This growth encompasses both adult-use and medical cannabis markets, with adult-use sales dominating at $257.9 million, compared to the significantly smaller $2.2 million in medical sales.

The price per ounce for medical cannabis stood at $102.16, whereas adult-use cannabis was slightly cheaper at $91.94, as reported by the Cannabis Regulatory Agency (CRA). The adult-use market saw sales of 474.9 pounds of cannabis.

Employment within the sector is also on the rise, with 35,335 individuals now working across both medical and adult-use cannabis companies, indicating a robust job market within this burgeoning industry.

A breakdown of sales by product category highlights the diverse consumer preferences in Michigan's cannabis market:

  • Flower led the sales with $118.4 million.
  • Vape cartridges followed at $49.7 million.
  • Inhalable compound concentrates garnered $28.9 million.
  • Infused edibles, which include a variety of consumable cannabis products, reached $24.2 million.
  • Shake and trim rounded out the top sellers with $20.8 million.

The detailed sales data for February 1 – February 29 further specifies the quantities sold and total sales for each category:

  • Flower: 80,463.73 pounds, totaling $118,364,463.66.
  • Shake/Trim: 21,570.44 pounds, totaling $20,810,819.73.
  • Concentrate: 3,089.37 pounds, totaling $15,428,855.68.
  • Inhalable Compound Concentrate: 7,902.16 pounds, totaling $28,858,791.87.
  • Vape Cartridge: 9,494.76 pounds, totaling $49,717,379.36.
  • Kief: 15.68 pounds, totaling $51,630.26.
  • Infused-Edible: 350,520.37 units, totaling $24,180,154.12.
  • Infused Non-Edible Solid: 1,218.96 units, totaling $507,475.79.
  • Infused Liquid: 698,587.08 fluid ounces, totaling $821,346.29.
  • Infused Non-Edible Liquid: 15,242.56 fluid ounces, totaling $116,728.44.

The total of 474,275.47 pounds and 713,836.74 fluid ounces sold translates into a comprehensive $258,857,645.20 in sales, showcasing the dynamic and expanding nature of Michigan's cannabis industry.

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