Massachusetts cannabis sales plateau, with $154M in sales last month
March sales ticked up only 2.3% from the previous year.
While the Massachusetts marijuana market hasn’t slowed down, its pace of growth has reached a mellow simmer, with sales numbers plateauing over the past year.
In March, Massachusetts dispensaries sold a total of $154 million worth of cannabis goods, including $136.8 million in recreational and another $17.2 million in medical, according to statistics from the state Cannabis Control Commission.
Though that’s up from the $143.8 million sales mark in January and the $143.3 million in February, it’s just a slight increase from the $150.5 million sold in March 2023, with the market growing by just 2.3% year-over-year.
Monthly sales also stagnated somewhat, fluctuating since January 2023 between $140.4 million and the high point of $158.7 million in December last year.
Recreational sales have stayed flat in the neighborhood of $130 million per month, but medical sales have trended downward, from about $20 million monthly a year ago to now around $17 million per month.
The state as a whole sold more than $1.7 billion worth of cannabis in 2023. Three months into 2024, the cannabis sales total is at $441.1 million, which should match last year’s performance if sales keep pace.
Since recreational sales launched in late 2018, all-time sales neared the $7.2 billion mark, including $5.9 billion in recreational sales and another $1.25 billion in medical.
