BDS Analytics Details Cannabis Market Trends in 5 Key Western States During August

A Detailed Look at Cannabis Sales in California, Oregon, Arizona, Colorado and Nevada

We are pleased to share with our readers overviews on five important Western cannabis markets compiled by BDS Analytics for the month of July. 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 August, the last month before the onset of the vaping crisis, sales across the five markets totaled $652.7 million. Sales growth ranged from 13% in California and Colorado to as high as 28% in Arizona and Nevada in comparison to the same month in 2018. Pre-rolls continue to grow rapidly, especially on the West Coast, with the California market experiencing 46% growth in the category while Oregon grew 32%. Concentrates, which represent 28-38% of sales by market, grew more rapidly within each market than overall sales grew.

Here is a more detailed look at each market, as detailed by BDS Analytics:

California

This past August, sales for California’s licensed dispensaries and delivery services reached a combined $272.4 million, increasing almost three percent from July. Year-over-year sales for the month of August show an increase of 13 percent, and the combined year-to-date sales of nearly $2 billion indicate 24 percent growth compared to August 2018.

In August, Flower contributed 33 percent towards overall revenues with $90.6 million in sales. Compared to July, sales in the category increased two percent; compared to August 2018, sales remained about the same. Year-to-date through August, sales of Flower have reached $651.7 million, a five percent increase compared to the same time period in 2018. Contributing 10 percent towards overall revenue in California, Pre-Rolled Joints sales generated $27.2 million this past August, a 46 percent increase compared to August of 2018. Year-to-date through August, sales of Pre-Rolled Joints have increased 42 percent, reaching $173.2 million.

Concentrates, California is unique in that it is the only state tracked by BDS Analytics where concentrates are the dominant category. Sales of concentrates contributes 36 percent of revenues for the month. The $99.1 million in Concentrates sales represented almost two percent growth from the trailing month, but more than 19 percent growth compared to August 2018. In the first eight months of 2019, Concentrates dollar sales increased by over 39 percent compared to the same time period in 2018, reaching $718.9 million.

Vape sales continue to dominate the Concentrates category each month, August of 2019 was no exception. Vape products made up 83 percent of dollar sales within the Concentrates category and more than 30 percent of overall sales revenue across the entire market. Year-to-date, Vape sales in California alone have reached $596.2 million, increasing 43 percent compared to the same time period in 2018.

Sales of Ingestibles reached $44 million this past August, contributing 16 percent towards overall revenues. Compared to August 2018, sales in the category increased by 13 percent. Year-to-date revenues indicate an overall growth of 33 percent compared to the same time period in 2018, reaching $336.4 million in year-to-date sales. The Ingestibles category includes both Edibles and Sublinguals, while also distinguishing the two subcategories. Compared to August of 2018, revenues from Edibles increased by 16 percent while Sublinguals increased by four percent.

Oregon

Oregon dispensary sales reached $78.9 million this past August, an eight percent increase from July. Compared to August 2018, sales increased by 26 percent overall. Year-to-date through August, sales have increased by 20 percent compared to the same period in 2018, reaching $525.6 million.

Flower sales reached $33.3 million in August 2019, contributing 42 percent towards overall sales revenue. Flower sales increased by over 10 percent from the trailing month and increased by 31 percent compared to August 2018. Year-to-date through August, Flower sales have increased 15 percent compared to 2018, reaching $213.9 million. The $6.2 million generated from Pre-Rolled Joints in August 2019 contributed eight percent towards overall revenues for the month. Compared to August 2018, sales increased 32 percent. Year-to-date through August, sales in the category grew 15 percent compared to the year prior.

Sales within the Concentrates category contributed 30 percent towards revenues in August. The $23.8 million in Concentrates sales represented 28 percent growth from August 2018. In the first eight months of 2019, Concentrates sales have increased 31 percent over the same period in 2018 reaching $161.7 million. Concentrates sales are segmented into dabbable and vape products. Compared to August 2018, sales increased 35 and 29 percent for the two subcategories, respectively.

Sales of Ingestibles generated $11.9 million in August and contributed 15 percent towards revenues for the month. Year-over-year sales in August increased by 13 percent. Year-to-date, the $83.7 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 76 percent towards Ingestibles revenues for the month of August. Year-to-date, sales of Edibles have increased 16 percent and sales of Sublinguals have increased 35 percent over the prior year.

Arizona

Sales for Arizona’s medical dispensaries were $63.2 million this past August, a four percent increase from July 2019. Compared to August 2018, sales increased by 28 percent. Year-to-date through August, sales have reached $457.9 million, a $64.2 million increase from the same period last year.

In August, Flower sales reached $28.6 million, contributing 45 percent of overall revenues for the month. Flower sales increased by seven percent from the trailing month and 26 percent from the year prior. Year-to-date, Flower sales have increased 11 percent, reaching $198.5 million.

Pre-Rolled Joints remain a small category in Arizona’s medical-only market. Sales of Pre-Rolled Joints were $2.1 million in August and $15.9 million in the first eight months of 2019. Compared to 2018, sales for the month increased 19 percent and year-to-date sales increased six percent. In the most recent reporting period, the category contributed three percent towards overall revenues.

The Concentrates product category contributed 38 percent towards overall revenues in August. The $24.3 million in Concentrates sales represented 31 percent growth compared to August 2018. In the first eight months of 2019, Concentrates sales increased 22 percent compared to the same period last year, reaching $178.6 million. Concentrates sales are segmented into Dabbable and Vape products. Compared to August 2018, sales increased 25 and 34 percent for the two categories, respectively.

Sales of Ingestibles generated $6.9 million in sales in August 2019 and contributed 11 percent towards total revenues for the month. Compared to August 2018, sales increased 28 percent. Year-to-date, the $54 million sold in Ingestibles was 25 percent greater compared to the same period in 2018. The Ingestibles category includes both Edibles and Sublinguals. Edibles sales contributed 86 percent towards Ingestibles revenues in August and sales increased 27 percent compared to August 2018. Sales of Sublinguals in August 2019 have increased 33 percent compared to August 2018.

Colorado

Sales from Colorado’s adult-use and medical dispensaries reached a combined $175.6 million this past August, a four percent increase from July. Compared to August 2018, sales increased by 24 percent. Year-to-date through August, sales in the Centennial state have reached an impressive $1.2 billion, a 13 percent increase from the same period in 2018.

In August, Flower contributed 42 percent towards all revenues with $73.6 million in sales. The category experienced a 21 percent increase in sales compared to August 2018, and a seven percent increase compared to the trailing month. It is worth noting that growth in sales of flower compared to the trailing month outperformed other major categories including vape and ingestibles. Year-to-date through August, sales of Flower have increased by more than five percent, reaching $478.8 million. Pre-Rolled Joints sales generated $10.7 million this past August, a 37 percent increase compared to August of 2018. Year-to-date through August, sales of Pre-Rolled Joints have increased 12 percent, reaching $66.6 million.

Concentrates remain the second largest category by revenue. In August, sales of Concentrates contributed over 33 percent towards overall revenues with $58.6 million in sales. Year-to-date through August, sales of Concentrates have grown by 23 percent. While Concentrates sales in other state markets are often dominated by the Vape segment, Colorado Vape sales continue to make up only 56 percent of revenues in the broader Concentrates category. Year-to-date, Vape sales grew 50 percent compared to the same period in 2018. Dabbable Concentrates, which comprise the other 44 percent of Concentrates sales, only grew three percent within the same period.

Ingestibles reside as the third largest product category. In August, sales of Ingestibles were $27.1 million, a 21 percent increase compared to August 2018. The $189.3 million generated in year-to-date sales represents a 17 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 16 percent while the smaller Sublinguals segment grew by 34 percent compared to the same period in 2018.

Nevada

Combined sales for Nevada’s medical and recreational dispensaries totaled at $62.6 million this past August, a four percent increase from July. Compared to August 2018, sales increased by 28 percent overall. Year-to-date through August, sales have increased 23 percent compared to the same period in 2018, reaching $459.8 million.

Flower sales reached $26.1 million in August 2019, contributing 42 percent towards overall sales revenue. Flower sales increased by eight percent from the trailing month and increased by 37 percent compared to August 2018. Year-to-date through August, Flower sales have increased 13 percent compared to 2018, reaching $184.4 million.

The $8.3 million generated from Pre-Rolled Joints in August 2019 contributed more than 13 percent towards overall revenues for the month. Compared to August 2018, sales increased 14 percent. Overall, year-to-date sales in the category have increased 8 percent compared to the year prior.

Concentrates contributed 28 percent towards total revenues in August. The $17.3 million in sales represented a 38 percent increase from August 2018. In the first eight months of 2019, Concentrates sales have increased 55 percent over the same time period in 2018 to $127.3 million. Concentrates sales are segmented into dabbable and vape products. Compared to 2018, sales increased 38 percent in both of the two subcategories, respectively.

Sales of Ingestibles generated $8.7 million in sales for the month of August and contributed 14 percent towards monthly revenues. Year-over-year sales in August increased 10 percent. Year-to-date, the $69.1 million in Ingestibles sales was 18 percent greater compared to the prior year. The Ingestibles category includes both the Edibles and Sublinguals subcategories. Edibles contributed 81 percent towards Ingestibles revenues in August, while Sublinguals contributed the remaining 19 percent. Year-to-date, sales of Edibles have increase 12 percent; Sublinguals sales have increased 51 percent over the same period.

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.

Published by NCV Newswire
NCV Newswire
The NCV Newswire by New Cannabis Ventures aims to curate high quality content and information about leading cannabis companies to help our readers filter out the noise and to stay on top of the most important cannabis business news. The NCV Newswire is hand-curated by an editor and not automated in anyway. Have a confidential news tip? Get in touch.

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