Cannabis Industry In Illinois Showing Explosive Growth, According To 2024 Report

SPRINGFIELD, OH – Newly released data in Illinois shows that the state’s cannabis industry is thriving, according to Cannabis Science Tech.

The 2024 Annual Cannabis Report published by the Illinois Department of Financial and Professional Regulation found that adult use cannabis sales have surpassed liquor sales, with total revenue for the fiscal year 2024 equating to $457 million compared to $311 million for liquor sales. Adult use sales account for about 79% of total sales revenue for cannabis in Illinois. This includes sales for solid marijuana infused edibles, liquid marijuana infused edibles, marijuana extract, marijuana topicals, usable marijuana, marijuana mix packaged, marijuana mix infused and liquid marijuana.

Overall, the report states that the state’s cannabis industry experienced “explosive growth” during the 2024 fiscal year.  After issuing 28 licenses in 2023, Illinois added 82 more licensed dispensaries, the largest expansion of dispensaries since the program’s start in 2014 with the passage of the Compassionate Use of Medical Cannabis Program Act (CRTA). This brings the state’s total to 220 licensed dispensaries.  Many of the new dispensaries are owned by social equity licensees.

“This growth has allowed for the creation of new jobs, increased access to cannabis for consumers, and shows the State’s commitment to social equity in its cannabis programs,” officials wrote in the report.

The report is part of tracking requirements included in the state’s adult-use and medical marijuana laws. It includes data from various state departments, such as Financial and Professional Regulation, Agriculture, Commerce and Economic Opportunity, Public Health, Revenue and the State Police.

Among the state’s goals for fiscal year 2025 is to expand access to cannabis for both recreational use and medical patients. There are  currently 55 dispensaries where medical patients can obtain cannabis.  The state also has a program enabling them to pay lower tax rate on their cannabis purchases.

“This development harkens back to the ‘compassion’ in the original Compassionate Use of Medical Cannabis Program Act and underscores the importance of never losing sight of the patients who were the foundation of this industry,” according to the report.

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