Licensed cannabis dispensaries in Illinois reported a record $2 billion in cannabis sales in 2024, making their state the third in the nation to eclipse that annual benchmark, according to program figures released Feb. 5.
Overall, the Prairie State’s cannabis retailers solder more than $1.72 billion in adult-use sales and $285 million in medical cannabis sales last year, according to the Illinois Department of Financial and Professional Regulation (IDFPR) and the state’s Medical Cannabis Patient Program.
Representing the third-largest adult-use cannabis market in the nation, Illinois’ sales figures were bested only by California, $4.7 billion, and Michigan, $3.3 billion.
Illinois’ 2024 total represents a 2.5% increase over the $1.96 billion in cannabis sales from 2023 and a 94% increase compared to the $1 billion in cannabis sales during the first year of the state’s adult-use program in 2020.
The state’s dispensaries have sold a cumulative $8.7 billion in adult-use and medical cannabis since the adult-use program commenced five years ago.
Illinois concluded 2024 with $153.2 million in adult-use sales in December, representing the best-performing month of the year; however, that total was $685,000 off the all-time monthly record set in December 2023.
The average price per gram for adult-use flower at retail was $9 per gram (roughly $257 per ounce) in 2024—an all-time low—representing a 12.5% decrease from the average $10.29 price for adult-use flower in 2023 (roughly $288 per ounce), according to the state’s Cannabis Regulation Oversight Officer (CROO).
Illinois’ cannabis sales to out-of-state customers totaled $385 million in 2024, roughly 22% of all adult-use sales, according to IDFPR.
This compares to $408 million in out-of-state sales in 2023, or 25% of the market; and $479 million in out-of-state sales in 2022, or 31% of the market.
This 20% decrease in cannabis tourism during the past two years is largely attributed to border-state Missouri commencing its adult-use cannabis program in February 2023.
Although Missouri has roughly half the population of Illinois, the Show-Me State finished 2024 with $1.46 billion in cannabis sales, according to its state Department of Health.
The Prairie States’ retail market grew 2.5% year-over-year, but sales attributed to out-of-state customers are down 20% since 2022. Read More
