Connecticut And Maine Lead East Coast Cannabis Boom: $47M In August Sales

Connecticut Cannabis Market Thrives: August Sales Soar To $25 Million

The Department of Consumer Protection in Connecticut unveiled new preliminary data, showcasing a robust cannabis market in August 2023, with combined adult-use and medical marijuana sales reaching an impressive $25 million.

The adult-use sector, which commenced in January 2023, accounted for over $14 million in sales, while medical marijuana contributed nearly $11 million.

State data highlights significant product purchases by both groups, revealing insights into consumer preferences, with 52 percent of sales comprising flower products and 30 percent vapes.

However, concerns are mounting over the state's limited testing lab capacity, with one of its only two licensed labs closing in March, reported Green Market Report.

Activists and industry experts worry that the single remaining lab may struggle to meet the growing demand as more dispensaries and brands enter the market, potentially affecting product availability and stifling growth.

Maine's Marijuana Sales Soar to New Heights in August, Setting Records

Maine's cannabis market achieved a remarkable milestone, with record-breaking sales totaling nearly $22 million, according to data from the state Office of Cannabis Policy (OCP).

August marks the fourth consecutive month of record adult-use cannabis purchases, with 377,050 individual transactions.

The state's year-to-date marijuana sales for 2023 have already reached $140.1 million, putting it on track to surpass the 2022 total of $159 million.

The Benzinga Cannabis Capital Conference, the place where deals get done, is returning to Chicago this Sept 27-28 for its 17th edition. Get your tickets today before prices increase and secure a spot at the epicenter of cannabis investment and branding.

Photo by CRYSTALWEED cannabis on Unsplash.