Illinois Marijuana Sales Hit $135 Million In July, Second Highest Total Since Adult-Use Market Launch

Illinois Marijuana Sales Hit $135 Million In July, Second Highest Total Since Adult-Use Market Launch

Illinois retailers sold $135 million worth of adult marijuana in July. This is his biggest monthly total sales in 2022 and his second-highest since sales began, the Illinois Department of Financial Professionals and Specialized Regulatory Affairs (IDFPR) announced Wednesday.

July sales are still about $2 million below the state’s peak in December 2021, but a sizable monthly total for a year in which cannabis purchases were delayed in the first few months.

Marijuana stores in Illinois said he sold 3,251,062 cannabis products in July, and in total, he sold $135,658,291. About $92 million in marijuana sales came from state residents, and $44 million was purchased from out-of-state visitors.

Nationwide cannabis sales increased 40% in 2021

Interestingly, although July sales are slightly lower than the December 2021 total, more individual cannabis products were sold last month than in December. This could indicate emerging trends such as: B. Changes in marijuana prices or changes in consumer preferences for certain products.

Medical cannabis sales are reported separately by a separate state agency and are not included in the new recreational data. Governor J.B. Pritzker (D) recently touted state marijuana sales and resulting tax revenue for the fiscal year 2022. Illinois raised between $1.5 billion and $445.3 million in taxpayer money from cannabis sales during that period.

This represents a 50% increase in cannabis taxes compared to the previous fiscal year. Local governments received $146.2 in cannabis tax payments last year, a 77% increase from the previous year.

Also Read: As More Drivers In Fatal Crashes Use Cannabis, New Report Offers States A Safety Playbook

50% of cannabis consumers have increased their consumption since the start of the pandemic

A survey of cannabis users by Weedmaps 2021 found that since March 2020, half of the respondents have started using more cannabis because of the pandemic. According to Weedmaps data, he saw a 55% increase in online cannabis orders in the first half of 2021 compared to the first half of 2020.

22% of Americans aged 18-25 used marijuana in the past month

The National Institute on Drug Abuse reports lower numbers compared to Gallup in its latest study (2018). In the survey, 8.6% of people over the age of 26 said they had used marijuana in the past month (which met Gallup’s criteria for current users). That number is up from 7.9% for him in the 2017 survey. Meanwhile, 22.1% of those aged 18-25 said they had used marijuana in the past month. Half of the people over the age of 18 have used marijuana in their lifetime.

Tom Angell 🌳📰ⓥ on Twitter: "Illinois regulators reported that retailers sold more than $135 million worth of adult-use marijuana products in July—the second biggest month ever. It also saw the largest number

Edibles continue to grow in popularity

Eaze’s 2022 report found that food was the number one purchase for all generations, except Gen Z, who ranked vaping as the number one purchase in 2020 and 2021. Interestingly, Hana ranks his #3 for all generations in 2021, with baby boomers ranking lower than they did in 2020. Edibles will continue to gain popularity as the market matures, as younger cannabis buyers turn 21 and both of these groups tend to buy edibles on a more regular basis.

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