This month, the Maryland cannabis industry hit a major milestone — reaching $1 billion in total retail sales.
About 40 months after retailers began selling medical cannabis in Maryland, dispensaries had collectively brought in more than $1 billion by early April, William Tilburg, executive director of the Maryland Medical Cannabis Commission, noted during a public meeting last week. And given current growth pace, Tilburg said the MMCC anticipates $2 billion in sales will be achieved in about about half the time.
The state industry got off to a slow start in December 2017, but has been charting huge growth in recent months. Between 2019 and 2020, sales totals nearly doubled from $242 million to about $460 million. In 2019, quarterly sales totals averaged about $60.5 million, and in 2020, that quarterly figure grew to $115 million.