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Illinois Cannabis Sales Decline In May, New Cannabis Ventures Looks At How And Why

In an analysis piece, New Cannabis Ventures paired figures from Illinois Medical Cannabis Patient Program and Illinois Department of Financial and Professional Regulation to gauge the evolut

Benzinga · 06/09/2022 17:33

In an analysis piece, New Cannabis Ventures paired figures from Illinois Medical Cannabis Patient Program and Illinois Department of Financial and Professional Regulation to gauge the evolution of the state's cannabis market.

Highlights Of May

  • In May, medical sales totaled $30.1 million, a reduction of 11.9% YoY and 5.2% sequentially;
  • Adding medical and adult-use sales, total cannabis sales in May grew 6.2% to $159.9 million, down 2.2% sequentially;
  • In 2021, combined cannabis sales in Illinois totaled $1.78 billion, up 72% from 2020. In 2022 they have increased 14% YoY.

Illinois cannabis sales dropped 15% sequentially in January after hitting a record of $140 million, in December 2021. Since then Illinois adult-use cannabis sales plunged 15% to $117.3 million in January. Still, it’s a year-over-year increase of 32%. In 2021, adult-use cannabis sales in the state amounted to nearly $1.4 billion - more than double the figure from the opening year of sales in 2020.

Photo by GIUSEPPE AZZONE on Unsplash.