A Detailed Look at Cannabis Sales in California, Oregon, Arizona, Colorado, Nevada and Maryland
We are pleased to share with our readers overviews on five important Western cannabis markets as well as Maryland compiled by BDS Analytics for the month of October. BDS Analytics offers a full understanding of the evolving cannabis market though several offerings, including its GreenEdge Retail Sales Tracking, Consumer Insights, Industry Intelligence and CBD Market Monitor divisions. For those not familiar with the Colorado-based company, which was founded in 2015 and is run by co-founders CEO Roy Bingham and President Liz Stahura, we have been covering their progress since almost day 1.
During October, the second month after the onset of the vaping crisis, sales across the six markets totaled $618.9 million, up 0.4% from September. Sales growth from a year ago among the five Western markets ranged from 8% in California, the same as in the prior month, to as high as 29% in Arizona. Concentrates, which represented 22-32% of sales by market (compared to 23-33% in September and 26-38% in August), grew more slowly within each market than overall sales grew due to reduced sales of vape pens, which ranged from -12% in Oregon to +16% in Arizona and Colorado. There was evidence that consumers shifted to other formats in some markets during the month.
Here is a closer look at each market, as detailed by BDS Analytics:
California
This past October, sales for California’s licensed dispensaries and delivery services reached a combined $243.9 million, decreasing two percent from September. Year-over-year sales for the month of October show an increase of eight percent, and the combined year-to-date sales of nearly $2.5 billion indicate 21 percent growth compared to October 2018.
In October, Flower contributed nearly 37 percent towards overall revenues with $89.8 million in sales. Compared to September, sales in the category increased one percent; compared to October 2018, sales increased 12 percent. Year-to-date through October, sales of Flower have reached $834.1 million, a six percent increase compared to the same time period in 2018.
Contributing almost 11 percent towards overall revenue in California, Pre-Rolled Joints sales generated $25.9 million this past October, a 44 percent increase compared to October of 2018. Year-to-date through October, sales of Pre-Rolled Joints have increased 44 percent, reaching just over $227.3 million.
Concentrate sales reached $77.6 million in October 2019. Year-to-date through October, sales for the category increased 29 percent but more recently the category has languished as fallout from the vape scare continues to impact the bottom line. Compared to the trailing month, concentrate sales declined four percent in October and sales in the vape segment declined six percent. Vape sales this October were also six percent lower than in October 2018.
Vape sales continue to dominate the Concentrates category each month, and October of 2019 was no exception. Vape products made up 80 percent of dollar sales within the Concentrates category and 25 percent of overall sales revenue across the entire market. Year-to-date, Vape sales in California alone have reached $722.1 million, increasing 32 percent compared to the same time period in 2018.
Sales of Ingestibles reached $41.9 million this past October, contributing 17 percent towards overall revenues. Compared to October 2018, sales in the category increased by 12 percent. Year-to-date revenues indicate an overall growth of 28 percent compared to the same time period in 2018, reaching $419.7 million in year-to-date sales. The Ingestibles category includes both Edibles and Sublinguals, while also distinguishing the two subcategories. Compared to October of 2018, revenues from Edibles increased by 16 percent while Sublinguals decreased by three percent.
Oregon
Oregon dispensary sales reached $71.1 million this past October, a two percent decrease from September. Compared to October 2018, sales increased by 25 percent overall. Year-to-date through October, sales have increased by 21 percent compared to the same period in 2018, reaching more than $669 million.
Flower sales reached $32.2 million in October 2019, accounting for 45 percent of overall revenues. Flower sales remained steady compared to the trailing month but increased by 40 percent compared to October 2018. Year-to-date through October, Flower sales have increased 20 percent compared to 2018, reaching $278.9 million.
The $6.3 million generated from Pre-Rolled Joints in October 2019 contributed nine percent towards overall revenues for the month. Compared to October 2018, sales increased 46 percent. Year-to-date through October, sales in the category grew more than 20 percent compared to the year prior.
Sales within the Concentrates category contributed nearly 26 percent towards revenues in October. The $18.4 million in Concentrates sales represented ten percent growth from October 2018. Compared to the trailing month, concentrate sales declined four percent. The decline in sales for the category were driven by a nine percent decline in the vape segment. In October 2019, vape sales were 12 percent lower than a year earlier.
Sales of Ingestibles generated $11.3 million in October and contributed 16 percent towards revenues for the month. Year-over-year sales in October increased by 17 percent. Year-to-date, the $107 million in Ingestibles sales represented 19 percent growth compared to the same period in 2018. The Ingestibles category includes both the Edibles and Sublinguals subcategories. Edibles sales contributed 77 percent towards Ingestibles revenues for the month of October. Year-to-date, sales of Edibles have increased 17 percent and sales of Sublinguals have increased 33 percent over the prior year.
Arizona
Sales for Arizona’s medical dispensaries were $64.5 million this past October, a five percent increase from September. Compared to October 2018, sales increased over 29 percent. Year-to-date through October, sales have reached $583.7 million, a $94.7 million increase from the same period last year.
In October, Flower sales reached $33.9 million, accounting for nearly 53 percent of overall revenues for the month. Flower sales increased by seven percent from the trailing month and 43 percent from the year prior. Year-to-date, Flower sales have increased 22 percent, reaching $278.7 million.
Pre-Rolled Joints remain a small category in Arizona’s medical-only market. Sales of Pre-Rolled Joints were $2.2 million in October and $19.6 million in the first ten months of 2019. Compared to 2018, sales for the month increased 18 percent and year-to-date sales increased 10 percent. In the most recent reporting period, the category contributed three percent towards overall revenues.
The Concentrates product category accounted for 31 percent towards overall revenues in October. The $20.2 million in Concentrates sales represented 16 percent growth compared to October 2018. In the first ten months of 2019, Concentrates sales increased 17 percent compared to the same period last year, reaching $204.4 million. Concentrates sales are segmented into Dabbable and Vape products. Compared to October 2018, sales increased 17 and 16 percent for the two categories, respectively.
Sales of Ingestibles generated $7 million in sales in October 2019 and contributed 11 percent towards total revenues for the month. Compared to October 2018, sales increased 20 percent. Year-to-date, the $68.4 million sold in Ingestibles was 23 percent greater compared to the same period in 2018. The Ingestibles category includes both Edibles and Sublinguals. Edibles sales contributed 88 percent towards Ingestibles revenues in October and sales increased 22 percent compared to October 2018. Sales of Sublinguals in October 2019 have increased eight percent compared to October 2018.
Colorado
Sales from Colorado’s adult-use and medical dispensaries reached a combined $155.9 million this past October, a one percent decrease from September. Compared to October 2018, sales increased by 19 percent. Year-to-date through October, sales in the Centennial state have reached $1.5 billion, a 14 percent increase from the same period in 2018.
In October, Flower contributed 45 percent towards all revenues with $70.1 million in sales. The category experienced a 23 percent increase in sales compared to October 2018, and a one percent increase compared to the trailing month. Year-to-date through October, sales of Flower have increased by nearly nine percent, reaching $620.7 million.
Pre-Rolled Joints sales generated $10.4 million this past October, a 49 percent increase compared to October of 2018. Year-to-date through October, sales of Pre-Rolled Joints have increased 21 percent, reaching $88.1 million.
Concentrates remain the second largest category by revenue. In October, sales of Concentrates contributed over 30 percent towards overall revenues with $47.4 million in sales. Year-to-date through October, sales of Concentrates have grown by 20 percent. Compared to the trailing month, sales in the concentrates category declined three percent as the vape scare persisted. Vape sales in October were 16 percent greater than the previous October but compared to the trailing month, sales of vapes declined seven percent.
Ingestibles reside as the third largest product category. In October, sales of Ingestibles were $23.6 million, a 19 percent increase compared to October 2018. The $235.3 million generated in year-to-date sales represents a 16 percent increase compared to the same time period in 2018. The Ingestibles category includes the subcategories of Edibles and Sublinguals. Year-to-date sales revenues from Edibles sales grew by 15 percent while the smaller Sublinguals segment grew by 28 percent compared to the same period in 2018.
Nevada
Combined sales for Nevada’s medical and recreational dispensaries totaled at $59.2 million this past October, a four percent increase from September. Compared to October 2018, sales increased by 15 percent overall. Year-to-date through October, sales have increased 21 percent compared to the same period in 2018, reaching $575.9 million.
Flower sales reached $26.3 million in October 2019, contributing 44 percent towards overall sales revenue. Flower sales increased by more than five percent from the trailing month and have increased by 34 percent compared to October 2018. Year-to-date through October, Flower sales have increased 20 percent compared to 2018, reaching $241.3 million.
Pre-rolled joints perform particularly well in Nevada, the $9.1 million generated from Pre-Rolled Joints in October 2019 contributed 15 percent towards overall revenues for the month. Compared to October 2018, sales increased 17 percent. Overall, year-to-date sales in the category have increased 13 percent compared to the year prior.
Concentrates contributed 22 percent towards total revenues in October. The $13.2 million in sales represented a three percent decrease from October 2018. Year-to-date through October, Concentrates sales have increased 36 percent over the same time period in 2018 to $147.1 million. Concentrates sales are segmented into dabbable and vape products. Compared to October 2018, sales increased one percent and decreased four percent in the two subcategories, respectively.
Sales of Ingestibles generated $8.6 million in sales for the month of October and contributed 15 percent towards monthly revenues. Year-over-year sales in October increased two percent. Year-to-date, the $85.6 million in Ingestibles sales was 14 percent greater compared to the prior year. The Ingestibles category includes both the Edibles and Sublinguals subcategories. Edibles contributed 86 percent towards Ingestibles revenues in October, while Sublinguals contributed the remaining 14 percent. Year-to-date, sales of Edibles have increase 11 percent; Sublinguals sales have increased 30 percent over the same period.
Maryland
Sales for Maryland’s medical dispensaries were $24.3 million this past October, an eight percent increase from September. Year-to-date through October, sales have reached $199.4 million.
In October, Flower sales reached $12.7 million, accounting for more than 52 percent of overall revenues for the month. Compared to the trailing month, the average retail price of flower declined a little over one percent but revenues in the category increased one percent on high sales volume.
Pre-Rolled Joints remain a small category in Maryland’s medical-only market. Sales of Pre-Rolled Joints were $2.2 million in October and $14.2 million in the first ten months of 2019. Sales for the category jumped 32 percent in October from the trailing month.
The Concentrates product category accounted for 27 percent towards overall revenues in October. Concentrate sales increased 14 percent from the trailing month. Sales of vapes which account for 2/3 of concentrate sales increased five percent from September. Year-to-date through October, concentrate sales in Maryland reached $59.7 million.
Sales of Ingestibles generated $2.3 million in sales in October 2019 and contributed nine percent towards total revenues for the month. Compared to the trailing month, sales if ingestibles increased 17 percent. The category is segmented into edibles and sublinguals, compared to the trailing month sales in the two categories increased 19 and 7 percent respectively.
For readers looking for a deeper look at cannabis markets across these five states and more, including segmentation by additional product categories, brand and item detail, longer history, and segmentation by product attributes, learn how the BDS Analytics GreenEdge Platform can provide you with unlimited access to the most accurate and actionable data and analysis.
