Maine’s cannabis market reaches another high
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Sales volume of Maine of recreational-use marijuana more than doubled the pace of growth during July, increasing 45% from the June total.
Maine’s recreational cannabis sales continued to soar in July, reaching a new high and more than doubling their growth pace.
Sales of cannabis for recreational, adult use hit $9.43 million, up 45% from June’s record total of $6.47 million. More than 124,000 purchases took place over the month of July, raking in $943,480 in sales tax, according to data from the Maine Office of Marijuana Policy.
"These numbers demonstrate that, as access improves, more consumers are choosing the tested, tracked, and well-regulated market over a longstanding illicit market," OMP spokesman David Heidrich told Mainebiz.
"With that said, anecdotally, it would appear as though the natural growth of this new industry, the Independence Day holiday, and summer tourism have all contributed to the robust sales growth witnessed in July."
Maine’s recreational adult-use industry has continued to grow from its first month of sales in October 2020 of approximately $1.4 million with only six active licensees, according to OMP. June’s record sales of $5.36 million were up nearly 21% from May, and May’s were up 23% from the previous month.
To date the industry has brought in a total of more than $38.6 million and over $3.8 million in taxes in less than a year.
With more and more applicants applying for licenses, the trend looks likely to continue. There are currently 46 licensed retail stores in the state, and another 194 in the process of getting licensed.
There are 43 licensed facilities actively cultivating cannabis and another 183 in process. Sixteen of those are certified to produce "clean cannabis" from the Maine Organic Farmers and Gardeners Association.
There are also 23 active manufacturing licenses, another 76 are in process. The state is home to six cannabis testing facilities, three of which are listed as being active.
The market for medical-use cannabis, which became legal in 1999 in Maine, is holding steady. The number of registered caregivers was 3,003 as of July 31, with 230 applicants received in July, according to OMP.
In 2020, Maine had 3,046 registered caregivers, up 450 from 2019. There were 3,257 registered caregivers in 2016, the year Maine voters authorized the use of recreational cannabis.
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