Michigan Cannabis Sales

Michigan's cannabis market has demonstrated a robust growth trajectory, particularly notable in the consistent increase in total sales and unit sales. As of November 2024, Michigan reported total cannabis sales amounting to approximately $266.11 million, with a significant year-over-year sales growth of 2.2% and a remarkable 35.8% increase in total units sold compared to the previous year. This growth is underpinned by a relatively low average item price, which decreased from $10.38 in October 2023 to $10.05 in November 2024, suggesting a market that is becoming increasingly competitive and accessible to a broader consumer base.

The market's resilience is further highlighted by its performance over the past 24 months, where despite minor fluctuations, there has been a clear upward trend in sales figures. The market peaked in August 2024 with sales reaching nearly $295.41 million, before experiencing a slight dip in the following months. This pattern underscores the market's dynamic nature and its capacity to recover and grow even amidst varying economic conditions.