Arizona’s Medical Marijuana Market Keeps Shrinking, With No End In Sight
The medical marijuana market continued its slow-moving free fall
After a slight uptick in March, the medical marijuana market continued its slow-moving free fall and has dropped to one-quarter of the size of the adult-use market three years after recreational sales began.
Following a third straight year of reaching $1.4 billion in total sales, Arizona’s cannabis markets have fallen into a familiar pattern, leveling out at about $110 million monthly.
From March 2021, when the combined marijuana market reached nearly $134 million in monthly sales, totals have ranged from about $120 million to an apex of $140 million in March 2022. So far in 2024, those numbers have been below $113 million. January and April bottomed out at $104 million, the lowest total since the first full month of legal cannabis sales in February 2021 registered $96 million.
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