Illinois’ adult-use cannabis sales for May showed a modest 1.2% increase from April, reaching $146.2 million. Compared to last year, the figures from the Illinois Department of Financial and Professional Regulation (IDFPR) for May showed an increase of 10.1%.
Illinois Adult-Use Cannabis May Sales Dynamics
Cumulative adult-use sales for 2024 have reached $709 million, marking a 9.4% increase year-to-date. This growth follows annual increases of 106% in 2021, 13% in 2022, and 5% in 2023. Sales to non-residents accounted for 22.6% of the total in May.
However, May's monthly total cannabis sales figures also represents a slight decline on a per-day basis compared to April, which included the 4/20 holiday, as noted by New Cannabis Ventures.
Illinois Medical Cannabis Sales In May
Medical cannabis sales, reported separately by the Medical Cannabis Patient Program (MCPP), decreased by 2.6% from April to $24.4 million, an 11.1% drop year-over-year. Combined adult-use and medical sales for May were $170.6 million, up 0.6% sequentially and 6.5% from the previous year.
In 2023, total cannabis sales in Illinois reached $1.96 billion, marking a 3% increase from 2022. So far in 2024, sales have grown 6% compared to the same period in 2023.
Read also: Illinois Cannabis Sales and Taxes Allocation
The Illinois Department of Public Health reported 141,818 active patients in the Medical Cannabis Registry Program as of May 31. The state's 55 licensed medical cannabis dispensaries served 61,757 unique patients in May, with retail sales totaling $24.4 million.
Overall, licensed medical cannabis dispensaries have generated $2.09 billion in retail sales since November 2015, while wholesale sales by cultivation centers have reached $3.57 billion in the same period.
Cannabis rescheduling seems to be right around the corner. Want to understand what this means for the future of the industry? Hear directly for top executives, investors and policymakers at the 19th Benzinga Cannabis Capital Conference, coming to Chicago this Oct. 8-9. Get your tickets now before prices surge by following this link.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Cannabis is evolving – don’t get left behind!
Curious about what’s next for the industry and how to leverage California’s unique market?
Join top executives, policymakers, and investors at the Benzinga Cannabis Market Spotlight in Anaheim, CA, at the House of Blues on November 12. Dive deep into the latest strategies, investment trends, and brand insights that are shaping the future of cannabis!
Get your tickets now to secure your spot and avoid last-minute price hikes.