The cannabis industry in Arizona has the second year of the year of sales

In 2024, the cannabis industry in Arizona recorded a total turnover of almost 10%, which marked the second year of the decline in a row. The combined turnover with medical and leisure scannabis amounted to 1.3 billion US dollars at 1.5 billion US dollars in 2022. This downturn is due to a significant decline in sales for medical marijuana and a soft leisure market.

Medical marijuana sales decrease

The turnover of medical marijuana fell by almost 40% in 2024 and a total of 243 million US dollars compared to over 733 million dollars in 2021. This decline reflects a shift in consumer preferences compared to leisure scannabis, which now accounts for 81% of total sales of 48% in 2021.

The leisure market becomes soft

The turnover of leisure kannabelles reached almost 1.1 billion US dollars in 2024, which corresponds to a decline of approximately 43 million US dollars compared to the previous year. However, this easy decline shows a ripening market for challenges such as price compression and increased competition.

Tax revenue effects

In 2024, the state collected almost $ 190 million of cannabis-controlled taxes, with $ 170 million from the 16% consumption tax on leisure sales and over $ 20 million from sales with medical marijuana. Tax revenue supports various public services, including community colleges, public security, infrastructure and social services for communities that are affected by previous marijuana criminalization.