New Cannabis Ventures discussed a report by BDS Analytics, a platform responsible for helping users understand the medical cannabis market’s evolution by way of a number of offerings, including GreenEdge Retail Sales Tracking, Industry Intelligence, CBD Market Monitor Divisions, and Industry Intelligence.
According to New Cannabis Ventures analysis of the data, it appears that there has been a decline in the market share of flower shares compared to concentrates and indigestible products. Further, flowers have 33% of the California market and 43% of the Arizona market. Sales growth also varies based on the market.
BDS Analytics report detailed the following as to each state.
In California, licensed dispensaries and delivery services generated a combined revenue of $248.8 million in June, which was a 2% decline since May. Further, year-to-date sales of flowers reached $470.7 million, which was a seven percent increase from June 2018. As for consumers, they spent $22.1 million on pre-rolled joints, a 14% increase since June 2018. The sale of indigestible products also performed well, reaching $42.3 million in June. The amount contributed 17% toward the overall revenues.
In Oregon, dispensaries generated $68.3 million in June, a 5% increase since May. Sales were also positive, reaching $373.3 million, an 18% increase since June 2018. As for flower sales, they reached $27.8 million in June 2019, and pre-rolled joints reached $5.2 million.
Both Colorado and Arizona performed well in June 2019, comparatively.
Despite medical cannabis laws in several states, marijuana is illegal under federal law.
All information is for general informational and educational purposes only. Nothing should be interpreted as legal or wellness advice.