A Detailed Look at Cannabis Sales in Illinois, Maryland and Massachusetts
We are pleased to share with our readers overviews on three Eastern cannabis markets compiled by BDSA for the month of September. BDSA 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.
The BDSA data set now extends for more than a year for Illinois, Maryland, which is medical-only, and Massachusetts. Each of these relatively new limited-license markets are very different from the more mature Western cannabis markets, which BDSA has profiled at New Cannabis Ventures as well.
Here is a closer look at each market, as detailed by BDSA:
Illinois
In October 2020, Cannabis sales in Illinois’s medical and adult use channels totaled $108.4 million, growing over nine percent since September. Year-to-date through October, sales have reached $807.4 million.
Flower sales accounted for over 43 percent of overall monthly revenue in October with $46.7 million in sales. Pre-rolled Joints, which are tracked as a separate category, accounted for more nearly seven percent of revenues with $7.4 million in sales. Compared to the trailing month, Flower sales increased by 12 percent and Pre-rolled Joints grew by two percent.
The Concentrates category, which is the second largest segment of the Illinois cannabis market, accounted for nearly 33 percent of total October revenues with sales reaching $35.6 million for the month. Vape products, the largest segment of the Concentrates category, generated $27.5 million, accounting for over 77 percent of the Illinois Concentrates market and 25 percent of sales across all categories.
The Ingestibles category includes both Edibles and Sublinguals while also distinguishing the two subcategories. The Ingestibles category made up 16 percent of overall sales in October with $17.3 million in monthly revenue. In October, the $16.9 million in Edibles sales accounted for over 97 percent of Ingestibles sales overall, while Sublinguals made up the remaining three percent. Compared to the trailing month, Edibles sales increased six percent and Sublingual sales grew by over 16 percent.
Maryland
In October 2020, Cannabis sales in Maryland’s medical dispensaries reached $42.8 million, increasing by over six percent from September. Compared to the previous October, sales in Maryland grew by nearly 86 percent. Year-to-date through October, sales reached $365.8 million, representing a $166.7 million increase from the same period last year.
Flower sales accounted for almost 52 percent of overall monthly revenue with $22.2 million in sales. Pre-rolled Joints, which are tracked as a separate category, accounted for seven percent of revenues with $2.9 million in sales. Compared to the previous October, sales of Flower grew by 83 percent and Pre-rolled Joints increased by 48 percent.
Concentrate sales accounted for 28 percent of overall October revenues totaling $12 million for the month, representing a four percent increase from September. Vape products, the largest segment of the Concentrates category, generated $8.5 million in sales, making up 71 percent of the Maryland Concentrates market and nearly 20 percent of sales across all categories. Compared to October 2019, sales of Dabbable Concentrates grew by 69 percent, while Vape sales grew by 114 percent.
The Ingestibles category contributed almost 12 percent of sales in October with $5.1 million in revenue. In October, sales from Edibles generated 91 percent of Ingestibles sales overall, growing by nine percent from September. Sublinguals sales made up the remaining nine percent and increased by seven percent from the trailing month. Compared to the previous October, Edibles sales grew by 124 percent and Sublingual sales increased by 42 percent.
Massachusetts
In October 2020, Cannabis sales in Massachusetts’s adult use and medical channels reached a combined $104.7 million, growing by three percent since September. Year-to-date through October, total market sales have exceeded $717.6 million.
Flower sales accounted for 46 percent of overall monthly revenue in October with $48.5 million in sales. Pre-rolled Joints, which are tracked as a separate category, accounted for nearly 13 percent of revenues with $13.1 million in sales. Compared to the trailing month, sales of Flower declined by six percent and Pre-rolled Joints increased by 16 percent.
Concentrate sales accounted for nearly 25 percent of overall October revenues with sales totaling $25.8 million. Vape products, the largest segment of the Concentrates category, generated $18.7 million in sales. The category made up 73 percent of the Massachusetts Concentrates market and 18 percent of sales across all categories.
The Ingestibles category includes both Edibles and Sublinguals while also distinguishing the two subcategories. The Ingestibles category made up 15 percent of overall sales in October with $15.8 million in monthly revenue. In October, the $14 million in Edibles sales generated nearly 89 percent of Ingestibles sales overall, while Sublinguals made up the remaining 11 percent. Compared to the trailing month, Edibles sales grew by 17 percent and Sublingual sales increased by one percent, respectively.
For readers looking for a deeper look at cannabis markets across these three states and more, including segmentation by additional product categories, brand and item detail, longer history, and segmentation by product attributes, learn how the BDSA GreenEdge Platform can provide you with unlimited access to the most accurate and actionable data and analysis.
