Illinois Cannabis Sales Hit Near-Record In March With $174.8M, Up Nearly 10% From Feb

Illinois’ adult-use cannabis sales for March soared to $148.9 million, marking a 9.81% increase from February's $135.6 million, according to the latest figures released by the Illinois Department of Financial and Professional Regulation (IDFPR). The combined total of adult-use and medical cannabis sales reached $174.8 million.

Adult-Use Cannabis Hits Second-Highest Sales

This growth stands as the second-highest monthly total since the state legalized cannabis in 2020 and is part of a consistent upward trend, with the number of items sold rising by 11.33% to more than 4 million in March from 3.6 million in February. While the IDFPR data signals robust demand from both in-state and out-of-state residents, a closer analysis reveals a decreasing trend in purchases by out-of-state residents.

The upward trend is not merely a monthly spike but signifies broader growth within the Illinois cannabis market. Year-over-year, adult-use cannabis sales surged by 10.45% from March 2023's $134.8 million, indicating a maturing market and potentially expanding consumer base.

A Strong Month For Medical Cannabis

Parallelly, the medical cannabis sector painted a vibrant picture of patient support and market stability. According to the Medical Cannabis Patient Program (MCPP) update, retail sales of medical cannabis for March reached $25.9 million. This includes $12.2 million in dry flower sales and $13.7 million in concentrates and infused products, reflecting a diverse product interest among the 62,518 unique patients served.

Retail and wholesale figures underscore a flourishing medical cannabis industry. With 55 licensed medical cannabis dispensaries operational as of March 2024, the total retail sales for the year tallied to $74.7 million. Since the inception of licensed sales in 2015, the cumulative total retail sales have reached the $2 billion mark, showcasing the sector’s long-term growth and viability.

A Smashing Future Ahead?

As March's record was only surpassed by December 2023’s sales, which peaked at $153 million, Governor JB Pritzker’s administration continues to demonstrate its full support, solidifying Illinois’ status as an emerging powerhouse in the U.S. cannabis industry.

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