Top 15 U.S. Cannabis Markets Show Mid-Single-Digit Growth In 2024
January 21, 2025Legal cannabis is big business in America, with the top 15 states at $18 billion in sales in the year-to-date through September 2024. Leading markets include pioneers of legal cannabis like California but also newcomers like Ohio. SNDC has reviewed sales figures and market data to show which markets are thriving, which are facing headwinds, and highlight the most popular cannabis products across the U.S. In terms of sales, California is the national leader, with 9-month sales exceeding $3.5 billion. At the tail end is Ohio, at $440 million in sales, though adult-use sales in the Buckeye State only began in last August.
This issue focuses on the top five states—California, Michigan, Illinois, Florida, and Massachusetts—with future issues focused on smaller states and newer markets. In addition, these figures reflect regulated sales in the dispensary channel, a largely separate market from the hemp-derived THC products often found in liquor stores across the U.S.
While California remains the largest cannabis market in the U.S. by more than $1 billion, sales were down in 2024, with the state reporting a 7.9% decrease in sales through September compared to 2023. According to Headset’s data, sales declines continued later in the year, with the research group reporting that California sold roughly $333 million worth of cannabis products in December 2024, a nearly 11% drop.
The top three categories in California are flower, vape pens, and pre-rolls, with flower sales exceeding $100 million in December, vape sales just behind at $97 million, and pre-rolls in a distant third at $58 million. Vape pens fell the least, by 5.3%, while flower and pre-rolls dipped more than 10% each. Beverages sold through the dispensary channel were up by 1% and brought in $6 million in sales in December.
Leading flower brands in California include Stiiizy, Muha Med, and Cannabiotix, with Headset reporting that Stiiizy sold more than $25 million in December, as the latter two showed sales above $5 million each. Stiiizy is also a leader in vape pens and pre-rolls, joined by Jeeter (sales of more than $25 million), and Rove ($5m+). For drinks, Keef Cola, St Ides, and Dixie Elixirs are all market leaders, with California consumers leaning into high-potency drinks, such as St Ides’ 100-mg. iced teas.
Michigan, the second-largest market by sales, reported $2.4 billion through September, up 18.7%. Sales declined in December however, according to Headset, decreasing 8% to $258 million. As in California, flower, vape pens, and pre-rolls lead sales, with flower sales at $115 million, vape pens at $48 million, and pre-rolls at $47 million for December. While multi-state operator Stiiizy is also a leader in Michigan, the state’s number-one flower is from Green Mitten Pharms, a Michigan operator that specializes in bulk flower. Leading vapes and pre-rolls are produced by Stiiizy, Jeeter, Ozone (Ascend), and High Supply (Cresco). Beverages sold in dispensaries—at $1.2 million for December—grew 23%, led by high-potency drinks from Keef Cola, Dixie Elixirs, Ray’s Lemonade, and Mary Jones.
Behind Michigan is Illinois, a nearly $1.5 billion cannabis market through September, showing a 3.1% gain over 2023. Following the national trend, December sales were down 9.4% to $165 million, according to Headset’s data. Flower and vape pens are the two largest categories, with sales of $69 million and $45 million for December. In third are edibles, of which Illinois consumers purchased nearly $21 million last month, while fourth-place pre-rolls had $19 million in sales. Rythm (Green Thumb) and Ozone are two of the leading flower brands in Illinois. Ozone, Joos, and (the) Essence are the popular vapes, and Wana (Canopy USA), Ozone, and Mindy’s Edibles (Cresco) are the leading edible labels.
Florida is the only top-five market limited to medical sales, with adult-use legalization failing last year. The state recorded just under $1.4 billion for the first nine months of 2024, up 0.6%. Flower leads the way with a 44% market share. Vape pens are the second most popular segment, with roughly 22% of the market, and edibles come in third with a share of 14%.
Rounding out the top-five is Massachusetts at $1.37 billion in sales, up 2.4%. Headset’s data shows that sales declined 4.4% to $134 million last month, with flower, vapes, and pre-rolls leading the way at $56 million, $28 million, and $26 million, respectively. For flower, Simply Herb, Perpetual Harvest, and Glorious Cannabis Co. all marketed top-10 products; Simply Herb and Crude Boys sold leading vapes; and Springtime, Greens, and Good Chemistry Nurseries all offered popular pre-rolls. Beverage sales through dispensaries were at $1.6 million for December, with Levia and Buzzy selling popular products. While beverages are a small category in Massachusetts like in other leading cannabis markets, consumers there reach for lower-potency drinks more regularly, with 5-mg. options landing in the top 10 products sold.—Shane English
We’ll have more on the leading American cannabis markets in future issues.
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