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The Illinois Department of Financial and Professional Regulation (IDFPR) released April’s adult-use cannabis sales figures recently, demonstrating continued market growth. The state, which legalized recreational cannabis in 2019, saw a total of $144.5 million in sales in April, reflecting a 9.5% year-over-year increase from the $132 million in the same month of 2023.
Despite a slight month-over-month decline of 2.93% from March's $148.9 million, data shows the market continues to show resilience and growth:
In-state residents contributed significantly to the sales, accounting for $111.5 million, a 12% increase from April 2023. Futhermore, out-of-state visitors added $33 million, a slight increase of 1.8% year-over-year.
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In addition, medical cannabis sales totaled $25.1 million, falling 3.3% from March. The sales are composed by $11.9 million in dry flower sales and $13.2 million from concentrates and infused products. The state's 55 licensed dispensaries served 62,864 unique patients, who purchased over 1.36 million grams of dry cannabis, according to the Medical Cannabis Patient Program (MCPP) April update.
Since the creation of the MCPP in 2015, Illinois has seen over $2 billion in retail sales and more than $3.5 billion in wholesale sales by cultivation centers.
Altogether, the adult-use and medical cannabis sales in April reached $169.6 million, down slightly by 2.5% from March's total of $173.9 million.
However, while the sales figures highlight the market’s growth, Illinois' cannabis market faces legislative challenges. Lawmakers concluded the regular spring session without deciding on several key cannabis and hemp bills. The Cannabis Equity Coalition of Illinois criticized industry giant Green Thumb Industries Inc. (OTCQX:GTBIF) for lobbying against extending medical cannabis access. The failed measures have sparked a debate about corporate influence and regulatory needs, indicating that the future of cannabis legislation in Illinois remains uncertain.
Posted In: GTBIF
