New Cannabis Ventures offers readers this easy-to-read exclusive summary of BDSA’s monthly cannabis sales data for 11 states.
Cannabis sales increased 11.7% sequentially in the March after decreasing 2.1% in the short February, according to cannabis data analytics firm BDSA. Looking at a per-day basis, sales increased 0.9% sequentially. In this review, we will look at the markets one-by-one, beginning with the eastern markets and then concluding with the western markets. In total, BDSA estimates that sales across the 11 markets totaled $1.74 billion during the month.
Eastern Markets
BDSA provides coverage for Florida, Illinois, Maryland, Massachusetts, Michigan and Pennsylvania. In February, year-over-year growth ranged from -13.6% in Maryland to +62.4% in Michigan. Note that Florida, Maryland and Pennsylvania are medical-only markets, though Maryland is introducing adult-use soon.
Florida
Florida set a new monthly record, rising 9% sequentially and 25% from a year ago to $221.4 million. The annual growth slowed from the prior several months and the slowest since last June. Ingestibles were the fastest growing category, gaining 50% from a year ago, while concentrates grew only 6%.
Illinois
We reported the data from the state in early April that showed sales lifted slightly in March. BDSA data suggested that sales rose 0.5% from a year ago but jumped 11% sequentially to $163.8 million. Pre-rolls grew 3%, while concentrates fell 2% from a year ago.
Maryland
The $40.2 million of sales in March was 7% higher sequentially but down 13.6% from a year ago. Ingestibles fell 5%, while the other categories were all double-digit decliners, with flower falling the most, 16%.
Massachusetts
Rising 5.5% from a year ago, sales increased 12% sequentially to $149.9 million. Pre-rolls grew 15% from a year ago, while concentrates, unchanged, were the weakest category.
Michigan
Sales in Michigan were reported by the state in mid-April. BDSA suggests that sales soared sequentially by 15% and boomed 62.4% from a year ago to $249.7 million. Pre-rolls exploded higher, gaining 136%, while concentrates, the weakest category, grew 41%.
Pennsylvania
Sales slipped 1% from a year ago to $103.0 million, which was up 14% from the prior month. Concentrates fell 4% from a year ago, and ingestibles gained 7%.
Western Markets
BDSA provides coverage for Arizona, California, Colorado, Nevada and Oregon. In February, year-over-year growth ranged from -14.3% in California to -2.3% in Arizona compared to a year ago.
Arizona
The 2.3% decline to $109.1 million was the first decline since December and represented a 3.4% sequential increase. Pre-rolls were very strong, growing 34% from a year ago, while flower was the weakest category at -12%.
California
Sales increased 11% sequentially in the largest state, but this was a 14.3% decline from a year ago. Pre-rolls fell only 7%, while ingestibles dropped just 5%. Flower, down 19%, was the weakest category, while concentrates fell 15%.
Colorado
At $151.4 million, sales dropped 6.8% from a year ago while soaring 21% sequentially. Concentrates dropped just 1%, while flower and ingestibles dropped 11%.
Nevada
Sales were $76.5 million, up 9% sequentially but down 9.6% from a year ago. Flower was very weak, dropping 16%, while concentrates and pre-rolls fell just 4%.
Oregon
Jumping 12% sequentially, sales fell 8.1% from a year ago to $81.3 million. Pre-rolls and ingestibles expanded 12%, while flower and concentrates dropped 15% and 14%, respectively.
For readers interested in a deeper look at cannabis markets across these eleven states and more, including segmentation by additional product categories, brand and item detail, longer history, and segmentation by product attributes, learn how BDSA Solutions can provide you with access to actionable data and analysis.
