Ohio Dispensaries Ring Up $38.4 Million in Cannabis Sales in First 12 Days

The pace slowed for Ohio’s licensed cannabis dispensaries during the second week of adult-use sales, but all signs still point to a billion-dollar overall marketplace.

Ohio’s retailers, including 120 with dual-use certificates of operation, reported more than $10.9 million in adult-use cannabis sales and $7.6 million in medical cannabis sales for the week ending Aug. 17, according to the Division of Cannabis Control (DCC). This compares to $11.5 million in adult-use sales and $8.3 million in medical sales during the previous five days.

Overall, Ohio’s cannabis customers and patients spent $38.4 million ($22.5 in adult use and $14.9 in medical) in the first 12 days since the adult-use market launched Aug. 6 for those 21 years and older. There are still 14 medical-only retail facilities that applied for adult-use licensure and are awaiting DCC approval for their dual-use certificates.

Averaging roughly $3.2 million in total cannabis sales per day during the first 12 days, the two markets combined are now on pace for nearly $1.2 billion in annual cannabis sales per year. While it’s still early, this annual run rate is shy of Missouri’s more than $1.4 billion in total cannabis sales during its first 12 months following a February 2023 adult-use market launch.

Ohio has nearly double the population as Missouri, and out-of-state traffic comes into play for both adult-use cannabis markets. Notable to Missouri, its highest total sales month came during its second month of an adult-use marketplace, according to the state’s Department of Health and Senior Services.

Perhaps as expected in Ohio, the Buckeye State’s initial surge in adult-use cannabis sales slowed down in the second week. The state’s dispensaries rang up $2.3 million per day during the first five days of the market launch, and then they reported nearly $1.6 million per day during the latter seven days, according to DCC figures. That’s a 32% decrease in adult-use daily sales volume from the initial surge.

Overall, the Buckeye State is averaging $3.2 million per day in combined adult-use and medical sales through the first 12 days, representing a 146% increase from the medical-only sales average of $1.3 million per day during the preceding four weeks, according to DCC sales figures.

Ohio’s dispensaries reported 1,194 pounds of adult-use cannabis flower sold in the week ending Aug. 17 (compared to 1,285 pounds sold during the first five days) and 167,756 units of manufactured adult-use products—such as edibles, tinctures and vape cartridges—sold in the most recent week (compared to 173,043 units sold during the first five days).

The average price per one-tenth ounce of cannabis flower was $26.67, or roughly $267 per ounce, last week, nearly identical to the previous five days.