From June 2020 through May 2022, the sales share of beverages, capsules, edibles, pre-rolls and vapor pens have grown noticeably. If consumers in California are moving away from sublingual and tincture items, concentrates and flower products, what items are adult-use consumers purchasing?Īdult-use customers in California have shifted their attention toward various emerging product categories within the last two years. Given the sales decline in several areas, one question remains. During the same period, tincture and sublingual products experienced a 9.3% drop in sales.
From June 2021 to May 2022, there has been a 14.7% decline in the sales share of concentrates. Additionally, there has been an apparent decline in the sales of concentrates, tincture and sublingual products. More recently, there has been a 14.3% drop in Flower share from June 2021 to May 2022. From June 2020 to May 2021, there has been a 3.8% decrease in the sales share of Flower products. Most notably, there has been an evident decline in the sales share of Flower products. However, the types of items that adult-use consumers purchase to generate these sales are changing. The state of California generated $5 billion in sales last year and is on pace to do so again this year. Examining Falling Flower Sales In The Golden State With that in mind, industry leaders should remain up to date on the needs of California consumers and examine where the marketplace could be headed next. cannabis market by sales and consumers are rapidly shifting their purchasing habits within the Golden State. Currently, California is home to the largest U.S. While it is important to look ahead, industry leaders must remain aware of the changing trends in states that have already fortified strong cannabis industries. In preparation, cannabis businesses continue to enter these markets and build for the future. market, states such as New Jersey, Florida, New York, Ohio and Virginia are expected to emerge as leaders in the growing cannabis landscape. By 2025, the total annual United States cannabis market has the ability to generate $45.8 billion. Anchorage, Alaska/United States – : A display of different strains of cannabis in Tundra Herb Company, a dispensary.Įach year, the cannabis industry attracts new entrepreneurs and businesses because of its immense potential for growth.
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