Recreational cannabis sales in Colorado ballooned by 88 percent over the past fiscal year, according to a new chart released by the Marijuana Business Daily. According to data from Colorado's state revenue department, sales hit nearly $600-million in 2015.
Wholesale cannabis sales also soared to 163 percent in 2015, hitting $234 million compared with just $89 million in 2014. As MBD columnist Becky Olson points out, the spike didn't come as a total surprise: in October 2014, the state lifted the requirement for retail stores to cultivate 70 percent of their own cannabis, limiting the potential growth of the recreational wholesale market; increased sales were a natural result.
In fact, the bump in sales was almost more than some dispensaries could handle.
While these unique circumstances mean future year-over-year growth likely won't be quite as impressive, the numbers still illustrate the high demand and tight competition in Colorado's recreational market. See the MBD's full analysis here - or check out the chart below.