Editor’s note: This article has been revised as of 4/12/22 due to a substantial number of revisions to the original data provided by BDSA
Following a sharp bounce in December from November, cannabis sales plunged in January across markets covered by cannabis data analytics firm BDSA. In February, all of these markets advanced on a per-day basis, with some markets actually experiencing sequential growth despite three fewer days in the month. The year-over-year growth rates stabilized or advanced despite ongoing pressure from declining flower sales. In this review, we will look at the markets one-by-one, beginning with the more mature western markets and then concluding with the newer eastern markets. In total, sales across the 11 markets totaled $1.39 billion during the month.
Western Markets
BDSA provides coverage for the relatively mature markets of Arizona, California, Colorado, Nevada and Oregon. In February, growth ranged from -14% in Nevada to 41% in Arizona compared to a year ago.
Arizona
Combined sales of $102.0 million were up 41.1% compared to a year ago, when there were only medical cannabis sales in the BDSA database, and down 2.0% from January. Medical sales of $43.5 million were down 40% from a year ago and 7% sequentially. Adult-use sales of $58.5 million increased 2% from January. Flower sales were up only 13% from a year ago, while pre-rolls expanded by 185%. Concentrates grew 54%, and ingestibles rose 77%.
California
California sales fell 6.1% sequentially to $258.3 million, with its 10.0% annual decline in February slightly better than the 12.2% drop in January. Flower sales continue to drag down overall sales, declining 19%, with pre-rolls gaining 14%. Ingestibles fell6%, while concentrates dropped 97% from a year ago during February.
Colorado
Sales fell 7.5% in February compared to January, declining 7.6% from a year ago to $155.8 million. This was better than the 11.2% decline in January. Flower, down 15.2%, drove overall sales lower, with pre-rolls growing 3%, ingestibles falling 3% and concentrates declining 2%.
Nevada
Hit hard by the downturn in tourism due to the pandemic, Nevada was the only state in the West to experience an increase in sales from January, with the $59.7 million booked in February representing a 1.5% increase though down 14.3% from a year ago. In January, sales declined by nearly 21%. Similar to other market, flower sales are the main driver of the decline, with February sales down 25% from a year ago. Concentrates increased 1%, while ingestibles fell 4% and pre-rolls declined 6%.
Oregon
Sales in February fell 4% from January to $80.3 million, down 9.5% from a year ago. In January, sales had declined by over 16%. Flower sales were down 24% from a year ago. Ingestibles fell less than 1%, while pre-rolls grew 11%. Concentrates increased by more than 2% compared to a year ago.
Eastern Markets
In these newer markets, the annual rate of growth increased in the six markets for which BDSA provides. Year-over-year growth ranged from 0% in Maryland to 44% in Michigan. Note that Florida, Maryland and Pennsylvania are medical-only markets.
Florida
Florida sales have been relatively steady over the past year. In February, they rose 5.5% from January to $160.7 million, up 33.1% from a year ago. In January, sales had gained 23.3%. Flower sales declined rose by 18% as pre-rolls gained 5%. Concentrates grew 43%. Ingestibles, a relatively new category for the state, grew 98% and represented 11% of overall sales.
Illinois
We previously published data released by the state regarding the 29% growth in sales in February, which represented a 3% decline from January. In January, sales had grown by 21%. According to BDSA data, flower grew 29%. Pre-rolls expanded 54%, while concentrates grew 30%. Ingestibles gained 17%.
Maryland
After declining 5.2% from a year ago in January, sales fell by 6.8% to $41 million, which represented growth of 0.2% from a year ago. Ingestibles grew 9%, while flower expanded by less than 1%. Pre-rolls fell 2%, and concentrates slipped 3%.
Massachusetts
One of the strongest states in February, Massachusetts sales expanded 3% from January and by 39.6% compared to a year ago to $139.6 million. In January, sales had increased by 25%. Flower grew 33%, with all other categories expanding by 41-48%.
Michigan
We had previously written about data released by the state indicating that Michigan cannabis sales increased 47% in February, which represented a 1.6% gain from January. BDSA estimated sales of $154.4 million, up 2% sequentially and 44% from a year ago, and acceleration from the 37.7% reported in January. Flower grew by 43%, while concentrates expanded by 52%. Pre-rolls increased 63%, and ingestibles gained 32%.
Pennsylvania
Sales slipped 2.2% in February to $92 million, up 8.1% compared to a year ago. In January, sales had increased 6.3%. Growth was clearly depressed by the recent vape recall, as that category grew just 3%. Flower expanded by 13%, while ingestibles gained 16%.
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 unlimited access to the most accurate and actionable data and analysis.
