Michigan Cannabis Sales Break Another Record In July, Likely To Top $3B In 2023

The growth has come exclusively from adult-use recreational marijuana sales

Michigan’s marijuana market continues its ascent, breaking another sales record in July.

The industry sold roughly $276.75 million worth of adult-use recreational and medical marijuana products last month, a 33.5% increase over January’s sales. If sales continue at this pace, they will top $3 billion in 2023.

The growth has come exclusively from adult-use recreational marijuana sales, which are up 38% since January, compared to declining medical marijuana sales, down nearly 46% for the year through July. Adult-use prices are cheaper than medical marijuana by nearly $3.38 per ounce, which means people with a medical marijuana card are more likely to just buy recreational weed.

It’s a far cry from the price collapses the industry has been facing for the last two years.

Adult-use recreational marijuana prices have recovered to $98.65 per ounce of flower in July, a 23% rise since January. However, prices remain low compared to the early days of the adult-use regulated market when prices topped $500 per ounce.

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Marijuana Retail Report, is a national daily online trade publication serving retailers of marijuana products and accessories. News and information are geared strictly to select retail channels, with distribution limited to licensed collectives, recreational retailers, accessories retailers, and wholesalers.


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