Colorado’s legal marijuana market hit a milestone at the end of 2018, going over $6 billion in combined recreational and medical sales since the adult-use market launched on New Year’s Day in 2014.
But since 2016, recreational sales have continued to climb as medical sales have taken a serious dip.
In 2018 alone, there was a 20% drop in MMJ sales from the previous year, from $416 million to $332 million.
In 2017, medical marijuana sales slipped from $445 million to $416 million, a 6.5% decrease.
Recreational cannabis, meanwhile, saw an 11% sales increase from 2017 to 2018, from just over $1 billion to $1.2 billion.
In 2017, sales jumped over 26%, and in 2016, sales increased by 49% increase.
Colorado’s medical cannabis market hit a high point in sales, $445 million, in 2016, while the state’s adult-use market continues to grow year-over-year, from just $303 million in 2014 to its current value of more than $1.2 billion.
Source: Colorado Department of Revenue
Source of article: https://mjbizdaily.com/colorado-legal-cannabis-sales-6-billion/
