Maryland marijuana sales continue to bloom with $100 million in August

The relatively new Maryland marijuana market continues to flower, with just over $100 million in total sales recorded for August, according to figures from the Maryland Cannabis Administration.

That includes $73 million in recreational sales and another $27 million in medical marijuana sales, the agency reported, and puts the state on pace to beat the $1.1 billion in sales from Maryland’s first year of operations, which launched in July 2023.

For the 2024 calendar year thus far, Maryland dispensaries have sold $755.7 million worth of cannabis goods, with an average price per gram of flower of $9.64, according to MCA statistics. Total sales since the market launched last year now stand at $1.3 billion.

Although the market hasn’t seen a huge new surge in sales – monthly sales have regularly been over the $90 million mark for the entire calendar year – the state has seen a major uptick in cannabis tax collections, the state comptroller reported, up 52% from the first quarter this year to the second to $22.3 million.

“The market for cannabis continues to grow in Maryland and has shown capacity to create new jobs, new investment and new opportunities, particularly for areas that are marginalized and left behind by a changing economy,” Comptroller Brooke Lierman said in a statement.

In a sales breakdown by the MCA, the agency reported that cannabis flower remains far and away the most dominant product type for marijuana consumers in the state, comprising $44 million of recreational sales in August and $15 million for medical sales.

In second place was concentrates, including vape cartridges, which accounted for $21 million in August recreational sales and $8 million in medical sales. In a distant third place was cannabis edibles, which brought in $8 million in recreational sales and $4 million in medical sales.