{"id":79000,"date":"2024-11-13T05:54:17","date_gmt":"2024-11-13T13:54:17","guid":{"rendered":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/2024\/11\/13\/missouris-marijuana-market-is-outperforming-states-with-older-legalization-laws\/"},"modified":"2024-11-13T19:46:05","modified_gmt":"2024-11-14T03:46:05","slug":"missouris-marijuana-market-is-outperforming-states-with-older-legalization-laws","status":"publish","type":"post","link":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/2024\/11\/13\/missouris-marijuana-market-is-outperforming-states-with-older-legalization-laws\/","title":{"rendered":"Missouri\u2019s Marijuana Market Is Outperforming States With Older Legalization Laws"},"content":{"rendered":"<\/p>\n

\u201cThose are mature marketplaces, and you are surpassing them. Missouri is doing amazing things, and we expect tremendous growth in this market going forward.\u201d<\/em><\/p>\n

By Rebecca Rivas, Missouri Independent<\/strong><\/p>\n

In less than two years of selling legal recreational weed, Missouri\u2019s cannabis market has grown to $1.4 billion\u2014outperforming states with a longer history of marijuana legalization like Arizona, Colorado and Nevada.<\/p>\n

\u201cThose are mature marketplaces, and you are surpassing them,\u201d said Laurie Parfitt, CEO at LKP Impact Consulting. \u201cMissouri is doing amazing things, and we expect tremendous growth in this market going forward.\u201d<\/p>\n

Parfitt gave a year\u2019s\u00a0overview<\/a>\u00a0of Missouri\u2019s cannabis market as part of the\u00a0MJ Unpacked Conference\u00a0in St. Louis last week, which brought together more than 1,000 industry leaders, regulators, investors and scientists to address issues facing the cannabis market.<\/p>\n

To a ballroom packed with brand executives, Parfitt unveiled Missouri\u2019s top consumer\u2014it\u2019s unsurprisingly a millennial man.<\/p>\n

Men make up 64 percent of cannabis sales in Missouri and more than 40 percent of shoppers overall are millennials, or people between ages 28 and 43.<\/p>\n

Gen X buyers (ages 44-59) make up 25 percent and Gen Z consumers, those between 21 and 27, are at 18 percent. Baby boomers make up the remaining 14 percent.<\/p>\n

\u201cWhen you really think about your marketplace, the majority of consumers are sitting in that millennial bracket,\u201d she said. \u201cAnd flower still dominates everything.\u201d<\/p>\n

Nearly 50 percent of sales consists of flower\u2014or what most would recognize as good old-fashion weed sold in a container.<\/p>\n

\u201cFlower is the 800-pound gorilla,\u201d she said, \u201cand it\u2019s always going to be one of the biggest categories out there. It\u2019s the major growth driver in this marketplace.\u201d<\/p>\n

That\u2019s true among all age groups in Missouri. However among the younger generations, vape pens are a close second but edibles make up a small percentage of their shopping cart.<\/p>\n

And it\u2019s the complete opposite for the older generations, who are starting to buy more edibles. In fact, the largest consumers of edibles currently in Missouri are baby-boomer women.<\/p>\n

The top five brands make up almost 27 percent of the state\u2019s total sales. Those are Illicit Gardens, Good Day Farms, Codes, Amaze Cannabis and Vivid.<\/p>\n

Parfitt\u2019s presentation was based on sales from September 2023 to October 2024, compiled by the cannabis data platform company\u00a0Headset.<\/p>\n

Missouri voters approved recreational cannabis in 2022, and sales began a few months later in February 2023.<\/p>\n

Andrew Mullins, executive director of the Missouri Cannabis Trade Association, said Missouri looks different from other states\u2019 markets after transitioning from selling only medical marijuana to adding recreational cannabis. Other states saw a surge in sales the first few months and then a pretty quick drop.<\/p>\n

\u201cWe\u2019ve been really surprised here in Missouri that it\u2019s basically been almost the exact same, around $120 million every month all the way through,\u201d Mullins said.<\/p>\n

This summer, MoCann pointed to another study that showed Missouri had the fifth most recreational cannabis sales, $709 million, in the first half of 2024 among all adult-use states.<\/p>\n

The report released by national cannabis business publication\u00a0Green Market Report, showed<\/a> California leading the nation in legal cannabis sales, followed by Michigan, Illinois and Massachusetts, all states with larger populations and that legalized cannabis before Missouri.<\/p>\n

And that growth translates to jobs, Mullins said. The state\u2019s industry now employs more than 20,000 people, according to the\u00a0Division of Cannabis Regulation\u2019s October data\u00a0<\/a>on cannabis employees or \u201cagents\u201d who\u2019ve been licensed.<\/p>\n

\u201cWe\u2019re very fortunate for the economic impact that it\u2019s created,\u201d Mullins said, \u201cand the jobs that it\u2019s created.\u201d<\/p>\n

This story was first published by Missouri Independent.<\/em><\/a><\/p>\n

\n

Florida GOP Lawmaker Weighs Marijuana Home Cultivation Bill After Ballot Measure Failure, But Leaders Oppose Reform<\/a><\/p>\n<\/blockquote>\n

\n

Photo courtesy of Chris Wallis \/\/ Side Pocket Images.<\/em><\/p>\n

The post Missouri\u2019s Marijuana Market Is Outperforming States With Older Legalization Laws<\/a> appeared first on Marijuana Moment<\/a>.<\/p>\n


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\u201cThose are mature marketplaces, and you are surpassing them. Missouri is doing amazing things, and we expect tremendous growth in this market going forward.\u201d By Rebecca Rivas, Missouri Independent In less than two years of selling legal recreational weed, Missouri\u2019s cannabis market has grown to $1.4 billion\u2014outperforming states with aContinue Reading<\/a><\/span><\/p>\n","protected":false},"author":457,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1335],"tags":[],"_links":{"self":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/79000"}],"collection":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/users\/457"}],"replies":[{"embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/comments?post=79000"}],"version-history":[{"count":1,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/79000\/revisions"}],"predecessor-version":[{"id":79001,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/79000\/revisions\/79001"}],"wp:attachment":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/media?parent=79000"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/categories?post=79000"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/tags?post=79000"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}