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Sponsored cannabis industry news from MJbizdaily.com
Two years after Arizona retailers recorded record sales of recreational and medical cannabis, the retail boom is fading.
Marijuana retailers in the state sold $1,257,437,802 worth of products in 2024, an 11.4% drop from $1,419,696,375 in 2023, according to an MJBizDaily analysis of data released by the Arizona Department of Revenue.
The dip is the second consecutive annual revenue decrease after dispensary operators sold a record $1,428,257,533 of cannabis products, the Arizona Mirror reported.
Following a national economic trend in markets that legalize adult use, declining sales in Arizona’s medical marijuana market drove the losses.
MMJ sales in Arizona accounted for $243,866,819 last year, down a whopping 31.8% from 2023 and nearly 53% from 2022.
Comparatively, adult-use sales dipped 4.5% year-over-year to $1,013,570,983.
Similar sales trends are playing out across the nation.
An MJBizDaily special report in February, in collaboration with the Marijuana Policy Project, highlighted the total number of MMJ patients on average decreases by roughly a third after a market launches recreational sales, shifts that impact business strategy, product availability, marketing and customer relationships.
In Illinois, slumping medical marijuana sales in early 2025 are dragging down overall cannabis revenue on the heels of a record year.
From the beginning of December 2024 through the end of February 2025, Illinois marijuana retailers reported $488.7 million in total sales, according to the most recent data available from the state Cannabis Regulation Oversight Office.
That’s down from the $501.7 million reported over the same time frame a year ago – a decrease attributable to flagging MMJ sales.
Sponsored cannabis industry news from MJbizdaily.com
Total cannabis sales in Arizona fall for second straight year
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