The New York State Office of Cannabis Management (OCM) has published its 2024 Market Report, providing insights into the growth and development of the adult-use cannabis market over its first two years since sales commenced.
The report provides the Cannabis Control Board (CCB) with data and insights to evaluate market outcomes and determine whether modifications are needed to support the goals of inclusion, fairness, and sustainability set forth in the Marihuana Regulation and Taxation Act (MRTA).
Additionally, the report highlights milestones, including more than $1 billion in retail sales from more than 260 operational dispensaries statewide, and highlights the state’s leadership in awarding licenses to Social and Economic Equity (SEE) applicants, who now hold 55% of licenses, exceeding initial targets.
As of April 2025, there are 368 licensed dispensaries statewide, with total sales nearing $1.5 billion.
Key findings include:
- Total retail sales reached $1.02 billion, with $869 million generated in 2024 alone.
- SEE applicants represent 81% of retail dispensary licenses and 58% of microbusiness licenses.
- Over 500 brands in the market, two-thirds of which only supply products in one or two categories
- More than 1,500 strains in the market, none of which have more than 2% of market share
- Registered organizations account for 10% of all Adult Use sales, and 19% of flower product sales specifically
- Retail dispensaries nearly tripled in 2024, reaching 260 locations operational by year's end.
- Conditional Adult Use Retail Dispensary Licensees accounted for 70% of open retailers at the end of 2024
- Strongest retail sales recorded in densely populated downstate regions, particularly Manhattan, Queens, and Long Island.
- Wholesale activity surged significantly, driven by increased cultivator inventory transfers directly to retailers.
