Illinois Cannabis Sales Increase 29% To $142.2M In February, After Slow January

After a sharp drop in January, when adult-use sales fell 15% sequentially as they rose 32% from the prior year, Illinois adult-use cannabis sales stabilized in February. Sales of $114 million fell 3% from January, but there were three fewer days during the month. Compared to a year ago, growth accelerated to 41%, noted New Cannabis Ventures.

Adult-use sales of $1.38 billion increased in 2021, 106% over 2020 and year-to-date sales of $231.3 million have increased 36% so far in 2022. Sales to non-residents have also been on the rise, adding to overall sales. In February, out-of-state purchases declined to 30.0% - the lowest since February 2021.

The state separately released sales from its medical program indicating that in February, medical sales totaled $28.2 million, down 5% from the prior year and down 5% sequentially.

Taking into account both medical and adult-use sales, total cannabis sales in February grew 29% to $142.2 million, down 3% sequentially.

In 2021, combined cannabis sales in Illinois totaled $1.78 billion, up 72% from 2020, and so far in 2022, they have increased 25% compared to a year ago.

Image created by JRod of Benzinga