Michigan Marijuana Sales Continue to Skyrocket
Michigan marijuana sales continued to skyrocket in June, reaching $187.4 million. That’s a 26 percent increase over sales from June 2021, and .5 percent more than sales in May (even though the month had one less day).
The record sales continue a trend that has seen Michigan become one of hottest states in the nation for cannabis sales, in part driven by accommodating state regulations that do not limit the number of licenses for cannabis manufacturers. That sales trend includes a record sales boom on 420 day in 2022.
The increase in sales came from recreational cannabis, which voters in the state legalized in November 2018. Since that time, adult-use sales have climbed while medical marijuana sales have dropped. Sales of Michigan marijuana for adult-use increased 54.5 percent between June 2021 and June 2022, while medical marijuana sales dropped by 48.4 percent.
Michigan Law Helps Marijuana Industry
Michigan has become a magnet for cannabis businesses due in part to state law that allows an unlimited number of licenses for manufacturing, as long as the local municipality agrees to grant a license.
Shelly Edgerton, board chair of the Michigan Cannabis Manufacturers Association, told the Detroit News that “anyone can come in and, obviously as long as they’re qualified and have the resources to kick off a business, have the ability to start someplace.” She said this is appealing to large cannabis businesses that may have success in other states and now want to “bring their brand and their market share to Michigan.”
The number of municipalities in Michigan allowing marijuana businesses has increased to 162 communities, a slight increase from the 156 in May 2021. Edgerton expects that number to grow as the pandemic eases its hold.
She told the News that officials are “trying to get back to normal business. I’m hopeful that we will start to see an uptick in municipalities opening their doors again soon, hopefully by the end of 2022.”
What People Are Buying in Michigan
In all of June 2022, Michigan dispensaries sold 233,804 pounds of cannabis products. The biggest amounts came in the following categories.
- Infused edibles (179,099 pounds)
- Flower (41,540 pounds)
- Shake/Trim (6,647 pounds)
- Vape Cartridge (3,652 pounds)
- Concentrate (1,125 pounds)
As the amount of sales have increased in Michigan, the price-per-pound has decreased 41.6 percent in the last year. The state expects to hit a record for sales in 2022. Sales reached $1.79 billion in 2021, but already hit $1.06 billion in June 2022.
In the meantime, Michigan marijuana is also creating jobs. The almost $2 billion Michigan marijuana industry ranks behind only California and Colorado in terms of total employment.