The Arizona marijuana market hit its lowest point of 2024 in November, with a grand total of $89.6 million in sales, according to state data.
That includes $73.1 million in recreational sales and another $16.5 million in medical sales, both respective lows for the 2024 calendar year.
That’s also down 21% year-over-year from a total of $113.3 million in November 2023, according to statistics from the Arizona Department of Revenue. That month, Arizona dispensaries sold $88 million in adult-use cannabis and $25.2 million in medical marijuana.
The southwestern market continued to crater throughout the past year, with cannabis sales peaking in March last year at $117.6 million. That month, Arizona dispensaries sold $93 million in adult-use cannabis and $24.5 million in medical marijuana.
Since then, sales have remained depressed, seemingly inching lower and lower every month.
Although there was a slight rebound in October, up to just over $100 million, that may have been an outlier, with the macro trend angling downwards. The state is on pace to “finish well below” the annual sales totals of both 2023 and 2022, when Arizona shops sold more than $1.4 billion in back-to-back years, the Arizona Mirror reported.
Arizona is far from the only mature state marijuana market experiencing headwinds. Contraction has also been felt acutely for months now in plenty of other longstanding cannabis markets, including Colorado, Michigan and Nevada.
New data from the state shows cannabis sales continuing their month-to-month slide. Read More
