While recreational sales surged, the state’s medical market slumped.
For the second consecutive month, Illinois has set new records in recreational cannabis sales.
The Illinois Department of Financial and Professional Regulation reported statewide adult-use sales of $139.5 million for September, marking the third-highest monthly sales since the state legalized recreational cannabis.
That includes a record monthly high $105.1 million in sales to in-state residents and $34.5 million from out-of-state visitors, a group which accounted for about a quarter of total sales.
However, while recreational cannabis sales surged, the state’s medical cannabis market slumped. The Illinois Department of Public Health reported September medical cannabis sales reached their lowest level since March 2020 at around $26 million. That figure breaks includes $12.5 million in dry flower sales and $13.5 million in concentrates and infused products.
Despite the decline in sales and headwinds in the market overall, medical cannabis dispensaries have forged on with their operations. With 55 licensed dispensaries currently in Illinois, total retail sales for these outlets reached $245.1 million in 2023.
Since November 2015, medical dispensaries have racked up to $1.88 billion in sales.
As of Sept. 30, there were 138,837 active patients in the Medical Cannabis Patient Program. The program has approved applications for nearly 296,536 qualifying patients since 2014, including 1,193 individuals below the age of 18.
On the medical wholesale front, cultivation centers reported around $324.3 million in sales so far for 2023. Cumulatively, since November 2015, they’ve made $3.09 billion.
Looking back on the year
According to recent fiscal data, Illinois residents accounted for nearly 75% of all cannabis purchases within the state, hinting at a robust in-state market.
Although out-of-state purchases saw a slight dip in 2023, likely due to more nearby states coming online, the dependency on such sales seems minimal as local demand continues its upward trajectory.
The swell in revenue, however, doesn’t solely tie to a surge in product prices. Data indicates that the number of cannabis units sold also rose, suggesting broader market participation.
The state’s cannabis revenue for the fiscal year 2023 capped at $1.59 billion.
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