Massachusetts' green rush shows no sign of slowing down, with the state’s adult-use marijuana market topping off another record-breaking year. Retailers in the Bay State banked over $1.56 billion in 2023, as reported by the Boston 25 News. This hefty sum marks a steady rise from 2022's totals by $78 million – a notable uptick of more than 5 percent.
Setting a benchmark for relentless growth year after year, the state's cannabis sector has managed to quickly always stay on an upward trajectory ever since the legalization baton was passed in 2018. Ava Concepcion, the Acting Chair of the Cannabis Control Commission, described the sales upswing "a maturing market," according to a statement obtained by Boston.com. December 2023 alone saw marijuana retailers and delivery operators tally up more than $140.1 million, which not only rounded off the year on a high note but also outdid the previous record set in August.
It wasn't just the adult-use market that enjoyed booming sales. The medical side of the herb business also surged to new heights, with nearly 100,000 certified patients contributing to an additional $225 million in sales. With 103 Medical Marijuana Treatment Centers across Massachusetts, these numbers underline a public that is increasingly turning towards cannabis for its therapeutic benefits.
Aspiring to continue to spread the wealth of this green growth, the Massachusetts Cannabis Control Commission has announced that they will begin to accept applications for the fourth cohort of their Social Equity Program, starting February 5. This program aims to diligently create pathways for those most affected by previous drug warfare policies to enter into the regulated market. The initiative was heralded as "a free, statewide technical assistance and training program" by the same commission, as quoted by Boston 25 News.
The number of adult-use marijuana retailers and delivery businesses in Massachusetts has now climbed to 338 and 21 respectively, as of the close of 2023. And if the current trends are anything to go by, the state appears primed to continue its streak of shattering its own records as it opens the door wide open to an ever-growing industry pushing past $5.65 billion in total sales since records began.
