Missouri’s Recreational Cannabis Industry Hits $1.5B in Under a Year
- On November 8, Missourians marked a year since the legalization of recreational marijuana which turned the industry from a million-dollar to a billion-dollar one. Nine months since the sales began, the reach of the business has expanded to more people, with a large flow of new customers every day.
- According to the Missouri Department of Health and Senior Services, the cumulative medical and adult use sales have doubled in less than a year, increasing from $605 million in December 2022 to over $1.5 billion in September 2023. Furthermore, the adult use sales have risen monthly by over $25 million since February.
- The cannabis industry has seen a substantial growth in the number of employees, from just above 9,800 in October 2022 to more than 18,000 in September. Moreover, under the law, nearly 100,000 marijuana convictions have been expunged from government records.
Missourians Embrace Recreational Marijuana, Boosting Industry
November 8 marked a significant milestone for Missouri’s recreational cannabis industry, celebrating a year since voters legalized adult-use cannabis in the Show-Me state. The industry has rapidly expanded, transforming from a million-dollar to a billion-dollar enterprise within nine months since the inauguration of sales.
Manager of the Missouri Health and Wellness Dispensary in Jefferson City, Katie West, reported remarkable growth in the sector and increasing customer turnout. The business has been busier than ever, with a daily influx of new consumers over 21 years old.
“The response has been unbelievable. Our customers are grateful for the opportunity to access legal cannabis, and we’re equally delighted to provide this service,” West shared.
According to official data from the Missouri Department of Health and Senior Services, cumulative sales of medical and adult-use cannabis doubled in less than a year, soaring from $605 million in December 2022 to over $1.5 billion in September 2023. Adult-use sales alone noted a monthly rise of more than $25 million since February.
West added, “We participated in MO CanniFest at the Lake of the Ozarks, interacting with hundreds of patrons whose lives have been positively impacted by cannabis. Their feedback will guide our future sales and product strategies.”
The cannabis workforce has similarly seen a tremendous surge, growing from just over 9,800 in October 2022 to more than 18,000 Missourians in September 2023. The upward trend is anticipated to persist through the holiday season and into 2024.
Moreover, nearly 100,000 marijuana convictions have been expunged from government records under the new law. Most misdemeanor marijuana convictions were set for expungement in June, barring those offenders still under the correctional system’s supervision.
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