After topping $2.2 billion in 2021, Colorado dispensary sales will likely drop around 20 percent 2022.
Annual marijuana sales in Colorado will likely slide to a three-year low based on data just released by the stateAfter hitting $2 billion in 2020 and topping over $2.2 billion in 2021, Colorado dispensary sales will be lucky to break $1.8 billion in 2022. Through September, overall marijuana sales for the year were just under $1.36 billion, according to DOR data. If dispensaries continue to meet their latest six-month average of $149.
Colorado's pot industry has been stricken with a year-plus recession as sales sink and more states legalize recreational marijuana. If this year's numbers continue to hold, dispensaries will experience a 20 percent reduction in sales compared to 2021, while the average price per pound of flower has dropped nearly 59 percent since last year, reaching a record low. Medical marijuana, a dwindling presence in Colorado, has hit record monthly lows in sales numerous times this year.
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