What do You Think the Average Maine Resident Spends on Cannabis?

A lot of people across the country smoke weed.

There's no question. In this day and age, it's becoming more commonplace, if not socially acceptable, all the time. You're starting to see targeted ads on social media, on the radio, even on TV in some capacities. 30 years ago, weed was deep underground. These days, you can buy CBD tincture at the counter of a convenience store.

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Of course, back in 2016 Maine legalized cannabis for recreational use, and finally got it all sorted out in 2020. Since then, Mainers have been spending millions of dollars on weed. And every year that number has increased. Given that about 25% of Maine's population uses it, it's not that shocking. But how much are Mainers spending?

Let's break down the numbers...

If you're a bit of a math-y nerd like I am, it's fun to see how these numbers break down. And honestly, I was a bit surprised. Now let's start with the obvious... In 2023, Mainers spent $217 million on cannabis. Given that we have roughly 1.3million residents in Maine, we can agree that roughly 25% of that is around 340,000.

So if we take the $217 million dollar amount, and divide it by the 340,000 Mainers who puff on the green stuff, the average Mainer is spending about $640 a year on weed. Break that down a bit further, Mainers spend a little under $55 a month. That number caught me totally off guard.

Let's compare...

Let's look at the OG legal cannabis state, Colorado. They have roughly the same percentage of their population buying cannabis, about 25%. People-wise, that's about two-thirds more than the Maine purchasing population, around 1.2 million people. But they purchased $1.5 BILLION worth of cannabis annually, with each resident spending over $100 a month.

I'm not saying Maine can compete, but we spend half as much, with roughly the same percentage purchasing. So to my surprise, Mainers may puff weed, but they're not ridiculous about it. I assumed based on everything I've heard on the news, etc... that Maine cannabis enthusiasts were swimming in a green, weedy pool.

Supply and demand.

On the other hand, the prices in Maine have gone down every year, while the amount spent goes up. You can easily find ounces of weed around the local dispensaries for under $100. So what Mainers are spending, versus what they're consuming, may not look quite right.

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Also, those numbers may change over time as the Maine cannabis market corrects itself. There are dispensaries everywhere. In some towns, there are more places to buy weed than any other kind of retail business. Eventually, saturation of the market will drive some places out of business. But no matter how you slice it, cannabis in Maine is pretty big business.

The names they come up with for weed are hilarious. Check it out...