Michigan’s 7-month-old recreational marijuana market is growing quickly, with sales up from nearly $7 million in the first month of sales last December to more than $39 million in May.
The Marijuana Business Factbook estimates Michigan’s 2020 adult-use sales will total between $400 million and $475 million, growing to $1.9 billion-$2.4 billion by 2024.
But Michigan’s recreational market has challenges to overcome as it grows, according to local industry officials.
Those challenges include a mismatch between supply and demand that could take years to clear up, as well as limited municipal opt-ins for adult-use marijuana businesses exacerbated by the COVID-19 pandemic.
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