Michigan Market Is On Fire

Michigan is on fire when it comes to cannabis sales. While the state is relatively new to legal adult use sales, the market is quickly becoming a force to reckon with. A new report issued by cannabis data collection firm Headset digs deeply into where the sales are coming from and what Michigan consumers like the most.

Watch Out Colorado

Headset noted that from January to July 2021, Michigan has recorded $970.4 million in sales, exceeding both Washington and Oregon markets. Michigan is only $145 million behind Colorado. At this rate, Michigan could give Colorado  run for its money. Headset said that adult-use sales continue to grow at an average of 10% month over month. In May, Michigan’s cannabis sales ($148.9M) were less than $8.5 million short of overtaking Colorado’s sales ($157.2.7M)

Chart provided by Headset

“When we break down Michigan’s medical and adult-use cannabis markets, we find that in January, Michigan’s medical sales made up 38% of total sales but decreased to 27% of sales in July.” The report did caution that growth in both portions of the market were slowing down slightly. That could be a sign that the market is beginning to stabilize. Headset also pointed out that Michigan is following the same month over month growth as other more mature markets.

Michiganders Love Edibles

Like most cannabis markets, flower is the top category for consumers. Michigan flower represents 50% of the market share, second only to Nevada where flower takes a 55% market share. Vape pens are second place taking 19% of the market share. However edibles are the big category winner in the state. Edibles have captured a 13.8% market share – the most of any state. The state’s cannabis consumers are less inclined to buy pre-rolls and concentrates. 

Headset wrote that California has sold more edibles so far in 2021 than Colorado and Michigan combined. However, Michigan has sold more edibles than Colorado by 416K so far this year. “Michigan is selling their Edibles at an average item price of $14.48, which is 11% lower than California’s average item price of $16.23.”

While gummies are usually the biggest edible winner in most states, Michigan consumers actually have a high preference for Caramels, Chews, and Taffy. Gummies do command 71% of the state’s edible sales, but 10% of the sales to go to the “chews” category. By comparison, only 5.8% of the California market goes to the “chews” category and in Colorado only 5.6%. 



Debra Borchardt

Debra Borchardt is the Co-Founder, and Executive Editor of GMR. She has covered the cannabis industry for several years at Forbes, Seeking Alpha and TheStreet. Prior to becoming a financial journalist, Debra was a Vice President at Bear Stearns where she held a Series 7 and Registered Investment Advisor license. Debra has a Master's degree in Business Journalism from New York University.

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