Ohio’s adult-use cannabis market, which was launched just two months ago, has already exceeded $87m in sales.
According to the latest statistics from the Ohio Division of Cannabis Control (DCC), since the launch of its adult-use market on August 06, sales have continued to increase, topping $43.07m in September alone, averaging around $1.5m per day.
The state has now issued 124 ‘dual-use’ licenses, which enable dispensaries to sell both medical and adult-use cannabis, and since launch these have sold more than 10,000 pounds of plant material and over 1.3 million units of manufactured cannabis products.
While Ohio still represents one of the most expensive states to purchase cannabis, especially compared to neighbouring states with more mature markets like Michigan, costs are gradually declining as accessibility increases.
In September, the cost per one-tenth ounce of flower fell from $24.24 to $23.74, while the average price per gram dropped from $8.57 to $8.39.
Over 100 smaller municipalities in Ohio have opted to prevent the launch of adult-use sales, meaning dispensaries are concentrated in major cities.
Despite these limitations, Ohio’s strategy of enabling existing medical cannabis businesses to expand into adult-use sales mean the state has not suffered from the early supply chain issues many other states have suffered from.
According to market analysis from Headset, the state’s cannabis market could reach $2.1 billion annually at full maturity.
The post Ohio’s Fledgling Adult-Use Cannabis Market Surpasses Sales of $87m, Shows No Signs of Slowing appeared first on Business of Cannabis.
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