A Detailed Look at Cannabis Sales in Illinois, Maryland and Massachussetts
We are pleased to share with our readers overviews on three Eastern cannabis markets compiled by BDSA for the month of April. 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.
BDSA has been sharing data for Massachusetts only since October, so the comparisons to year ago levels aren’t available. Similarly, it began publishing medical data for Illinois, which launched adult-use in January, in July. Maryland, however, has data back to January 2019, which allows for year-over-year comparisons. 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 May 2020, Cannabis combined sales in Illinois’s medical and adult use channels totaled $77.9 million, growing 13 percent since April. May sales represented a new milestone despite stringent social-distancing measures that remained in place through the month. Year-to-date through May, sales have reached $335.5 million.
Shortages of flower continue to constrain the category as Flower sales accounted for just 30 percent of overall monthly revenue in May with $23.6 million in sales. Pre-rolled Joints, which are tracked as a separate category, accounted for more than three percent of revenues with $2.7 million in sales. Compared to the trailing month, Flower sales declined by two percent and Pre-rolled Joints declined by five percent.
The Concentrates category, which was the largest segment of the Illinois cannabis market, accounted for 44 percent of total May revenues with sales reaching $34.4 million for the month. Vape products, the largest sub-category within the Concentrates category, generated $28.4 million, accounting for 82 percent of the Illinois Concentrates market and 36 percent of sales across all categories. In May, revenue from the sale of vape products increased 29 percent over April.
The Ingestibles category includes both Edibles and Sublinguals while also distinguishing the two subcategories. The Ingestibles category made up 21 percent of overall sales in May with $16 million in monthly revenue. In May, the $15.7 million in Edibles sales accounted for over 98 percent of Ingestibles sales overall, while Sublinguals made up the remaining two percent. Compared to the trailing month, Edibles sales increased 22 percent and Sublingual sales declined by about 17 percent.
Maryland
In May 2020, Cannabis sales in Maryland’s medical dispensaries reached $38.6 million, increasing by more than 13 percent from April. Compared to the previous May, sales in Maryland grew by nearly 98 percent as new operators have expanded access throughout the state. Year-to-date through May, sales reached $163.4 million, representing a $77.9 million increase from the same period last year.
Flower sales accounted for over 52 percent of overall monthly revenue with $20.1 million in sales. Pre-rolled Joints, which are tracked as a separate category, accounted for nearly seven percent of revenues with $2.6 million in sales. Compared to the previous May, sales of Flower grew by 116 percent and Pre-rolled Joints increased by 103 percent.
Concentrate sales accounted for nearly 28 percent of overall May revenues totaling $10.7 million for the month, representing 15 percent growth from April. Vape products, the largest segment of the Concentrates category, generated $7.4 million in sales, making up 69 percent of the Maryland Concentrates market and over 19 percent of sales across all categories. Compared to May 2019, sales of Dabbable Concentrates grew by 79 percent, while Vape sales grew by 62 percent.
The Ingestibles category contributed almost 12 percent of sales in May with $4.5 million in revenue. In May, sales from Edibles generated more than 91 percent of Ingestibles sales overall, increasing nine percent from April. Sublinguals sales made up the remaining nine percent and grew 12 percent from the trailing month. Compared to the previous May, Edibles sales grew by 185 percent and Sublingual sales increased by four percent.
Massachusetts
On March 24, 2020, recreational dispensaries in Massachusetts were deemed non-essential and forced to halt adult-use sales due to the coronavirus outbreak. Adult-use sales resumed on May 25th and are reflected in this month’s reporting.
In May 2020, Cannabis sales in Massachusetts’s adult use and medical channels reached a combined $34.3 million, growing by 98 percent since April. The significant growth from the trailing month was primarily a result of adult-use sales resuming after nearly two-months of closures due to Covid-19. With just a week of sales for the entire month, adult-use sales were a fraction of pre-Covid levels while medical sales increased by nearly 19 percent from the trailing month.
Year-to-date through May, total market sales have exceeded $246 million.
Flower sales accounted for almost 49 percent of overall monthly revenue in May with $16.7 million in sales. Pre-rolled Joints, which are tracked as a separate category, accounted for nearly 10 percent of revenues with $3.4 million in sales. Compared to the trailing month, sales of Flower grew by 101 percent and Pre-rolled Joints increased by 65 percent.
Concentrate sales accounted for nearly 24 percent of overall May revenues with sales totaling $8.2 million. Vape products, the largest segment of the Concentrates category, generated $5.8 million in sales. The category made up 70 percent of the Massachusetts Concentrates market and nearly 17 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 May with $5.5 million in monthly revenue. In May, the $4.7 million in Edibles sales generated about 84 percent of Ingestibles sales overall, while Sublinguals made up the remaining 16 percent. Compared to the trailing month, Edibles sales grew by nearly 127 percent and Sublingual sales increased by 109 percent.
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.
