Cannabis consumption has increased significantly over the last decade as more parts of the United States (US) push for some form of legalization. On November 8th, 2022, Missouri legalized recreational marijuana when resident voters passed Amendment 3 by a 53-47 margin.
This ballot initiative allowed adults aged 21 and older to have recreational cannabis in their possession. By December 8th, 2022, the law officially went into effect. Now, Missouri’s $1.4 billion cannabis market has managed to outpace states with more seasoned and developed programs.
After more than 1,000 industry leaders conversed at the MJ Unpacked Conference in St. Louis, the many predicaments facing the cannabis market were effectively addressed. Subsequently, Missouri’s cannabis market had grown to $1.4 billion in less than two years of selling legalized recreational marijuana. The state outperforms Arizona, Colorado, and Nevada, which all have a longer weed legalization history than Missouri.
Missouri’s Growing Cannabis Market
Lauri Parfitt, chief executive officer (CEO) at LKP Impact Consulting, notes that Missouri’s younger cannabis market surpasses the more mature marketplaces nationwide. “Missouri is doing amazing things,” she explains. Parfitt and many other industry leaders “expect tremendous growth in this market going forward.”
The CEO additionally provided a year’s overview of Missouri’s marijuana market at the MJ Unpacked Conference in St. Louis from November 5th to 7th. This conference brought together industry leaders, investors, regulators, and scientists with expert knowledge of the cannabis market. Parfitt highlighted some essential points regarding weed consumption in Missouri in her presentation.
Who Consumes Cannabis Most in Missouri?
As the ballroom-based cannabis conference was packed to the brim with brand executives, Parfitt uncovered the top marijuana consumers residing in Missouri. Unceremoniously, men make up about 64% of cannabis sales in the state, and more than 40% of overall weed purchasers are millennials.
Specifically, people between the ages of 28 and 43 make up a substantial amount of cannabis usage. Generation X, or the latchkey generation (ages 44-59), makes up around 25%, while Generation Z (ages 21-27) represents about 18% of marijuana buyers. Baby boomers complete the 14% remainder.
In light of this novel data, Parfitt states that “when you really think about your marketplace, the majority of consumers are sitting in that millennial bracket.” She additionally showcased how “flower still dominates everything.”
The Resilience of Old-Fashioned Flower
In terms of weed, “flower” refers to the smokable part of a cannabis plant enriched with trichomes. This component is what most would consider the respectable old-fashioned weed that’s sold in a container. Almost 50% of cannabis sales consist of flower marijuana.
Parfitt even dubs it “the 800-pound gorilla,” further predicting that “it’s always going to be one of the biggest categories out there.” The CEO goes on to explain how flower weed remains “the major growth driver” in the marijuana marketplace. However, its relevance and popularity vary from generation to generation.
The Prominent Preferences Among Generations
While flower weed holds prominence among all age groups throughout Missouri, the mode of consumption changes. Younger generations, like Gen Z and millennials, prefer vape pens aside from standard weed containers when shopping for cannabis-bound products.
The older generations, like latchkeys and baby boomers, contrarily may prefer edibles as a second choice to traditional modes of marijuana consumption, omitting vape pens from their desires entirely. Interestingly enough, Missouri’s largest consumers of edibles are women from the baby boomer generation.
New data also shows that certain brands receive more business than others. The top five cannabis brands that make 27% of the state’s total sales include Amaze Cannabis, Codes, Good Day Farm, Illicit Gardens, and Vivid.
The Future of Cannabis Consumption in Missouri
Parfitt’s presentation highlighted weed sales from September 2023 to October 2024, utilizing the cannabis data platform company known as Headset. As sales for recreational marijuana officially began in February 2023, Andrew Mullins (executive director of the Missouri Cannabis Trade Association) was initially surprised to see how well the state’s transition was holding up.
In other states, moving from the sale of medical marijuana to recreational marijuana typically saw a surge in sales followed by a quick drop. Missouri has ultimately remained stagnant in its sales, showcasing about $120 million each month until October 2024.
As recreational cannabis continues its contributions to Missouri residents, the state can expect to see a boost in available weed-related occupations from licensed marijuana companies. In a final note, Mullins says, “We’re very fortunate for the economic impact that it’s created,” expecting even bigger plans for the green plant soon.
