New Cannabis Ventures offers readers this easy-to-read exclusive summary of BDSA’s monthly cannabis sales data for 11 states.
Cannabis sales decreased 2.1% sequentially in the short February after decreasing 7.0% in January, according to cannabis data analytics firm BDSA. Looking at a per-day basis, sales increased 8.4% 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 $1.565 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 -14.0% in Maryland to +40.2% in Michigan. Note that Florida, Maryland and Pennsylvania are medical-only markets, though Maryland is introducing adult-use soon.
Florida
This state had declined in January from a record December, and it expanded 1.4% to $202.9 million, just shy of its level at year-end. The growth from a year ago slowed from 31.4% in January to 26.2% in February. Ingestibles were the strongest growing category at +43%, with flower just behind at +42%. Pre-rolls expanded 20% from a year ago, while concentrates grew 9%.
Illinois
We had already shared adult-use sales for the month, and BDSA estimates total sales fell 11.6% sequentially to $147.2 million, up 5.4% from a year ago. In January, they had grown 5.9%. Pre-rolls grew 15%, and other categories expanded 3-8% from a year ago.
Maryland
This state remains in a slump ahead of adult-use legalization kicking in, with sales of $35.3 million down 7.2% sequentially and down 14.0% from a year ago. This was modestly worse than the -13.7% growth last month. All of the categories declined, with flower falling 17% from a year ago.
Massachusetts
Sales of $139.1 million fell 0.6% sequentially and 0.4% from a year ago. This was worse than the 3.1% growth in January from a year earlier.Ingestibles rose 2%, and all other categories were within 1% of year-ago levels.
Michigan
Unlike the other states so far, Michigan expanded its growth in February from 36.8% to 40.2% from a year ago as sales rose 4.4% sequentially to $216.4 million. We detailed the state’s report last month. According to BDSA, growth was strong in all categories. Concentrates, the slowest growing area, expanded 26% from a year ago, while pre-rolls grew 100%.
Pennsylvania
This state also had better growth than a year ago as sales fell 0.6% sequentially to $90.5 million. Compared to a year ago, sales declined 1.7%. In January, they fell 3.3% from a year earlier. Ingestibles grew 6%, while concentrates fell 4% from a year ago.
Western Markets
BDSA provides coverage for Arizona, California, Colorado, Nevada and Oregon. In February, year-over-year growth ranged from -15.1% in California to +3.5% in Arizona compared to a year ago.
Arizona
Total sales in Arizona were flat sequentially in February at $105.6 million, up 3.5% from a year ago. Medical sales of $34.0 million fell 22% from a year ago, while adult-use sales expanded by 22% to $71.6 million. Pre-roll growth was again the strongest category at +49%, while flower fell 8% from a year ago.
California
Growth in February was similar to January at -15.1% from a year ago as sales fell sequentially by 6.2% to $356.4 million. Flower fell 22% from a year ago, while ingestibles, the strongest category, fell 5%.
Colorado
Sales slipped 0.6% sequentially to $128.7 million, down 11.4% from a year ago. This decline was less than the 14.4% decline in January. Flower fell 15%, while pre-rolls were the strongest relative category at -6% from a year ago.
Nevada
BDSA revised the Nevada data for 2022-H2. Sales slipped 6.9% sequentially to $70.5 million, down 1.6% from a year ago. This was better than the 2.1% decline in January and the smallest decline since the company reported +4.6% annual growth in December of 2021. Flower, down 8%, was the only category to decline, while concentrates and pre-rolls both expanded 5% from a year ago.
Oregon
Oregon also experienced a smaller decline annually as sales fell 9.3% from a year ago to $72.8 million, down 3.6% sequentially. Like Nevada, this was the strongest annual growth since December of 2021. Flower plunged 20%, while ingestibles rose 9%.
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.
