Growth in Cannabis Sales Remains Weak in October

New Cannabis Ventures offers readers this easy-to-read exclusive summary of BDSA’s monthly cannabis sales data for 11 states.

Cannabis sales decreased 0.5% in October compared to September according to cannabis data analytics firm BDSA. Looking at a per-day basis, sales decreased 3.7% month-over-month. 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, sales across the 11 markets totaled $1.64 billion during the month.

Eastern Markets

BDSA provides coverage for Florida, Illinois, Maryland, Massachusetts, Michigan and Pennsylvania. In October, year-over-year growth ranged from -16.2% in Maryland to 34.3% in Florida. Note that Florida, Maryland and Pennsylvania are medical-only markets.


Sales grew at a more rapid rate in October than September, increasing from 24.9% to 34.3%, the highest annual growth yet and a record of $201.6 million.  Flower sales grew 28%, pre-rolls increased 28%, ingestibles gained 38% and concentrates expanded 43% year-over-year.


We previously published data released by the state showing that sales grew 0.7% from September and increased 6.6% from October 2021. BDSA estimated sales of $160.1 million, up 0.8% sequentially and 3.1% from a year ago. Compared to last year, flower sales were up 4%, pre-rolls jumped 24%, ingestibles fell 2% and concentrates increased 6%.


Sales fell again, increasing 0.1% from August to $38.4 million, down 16.2% from a year ago. Flower sales decreased 17%, pre-rolls declined 14%, concentrates fell 20% and ingestibles fell 4% year-over-year.


Sales slipped 0.5% sequentially and decreased 0.7% compared to a year ago to $148.0 million. Flower sales grew less than 1%, ingestibles slipped 4%, pre-rolls increased 8% and concentrates declined 6% compared to last year.


We had previously written about data released by the state indicating that Michigan cannabis sales fell 1% sequentially and  grew 28.1% year-over-year. BDSA estimated sales of $209.4 million, down 1.2% sequentially and up 27.3% from a year ago. Flower sales increased 31%, while concentrates grew 25%. Pre-rolls jumped 56% and ingestibles gained 6% compared to the prior year.


Sales declined 0.6% in October to $92.1 million, down 10.3% compared to a year ago. Flower sales decreased 6% year-over-year, concentrates fell 15%, while ingestibles were down 7%.

Western Markets

BDSA provides coverage for Arizona, California, Colorado, Nevada and Oregon. In October, year-over-year growth ranged from -23.7% in Nevada to -5.5% in California compared to a year ago.


Combined sales of $107.9 million increased 2.1% from September, down 5.7% compared to October 2021. Medical sales of $39.9 million were up 2% sequentially and down 30% from a year ago. Adult-use sales of $68.0 million gained 2% from September and 19% year-over-year. Flower sales were down 15% from a year ago, while pre-rolls grew 30%. Concentrates fell 9% and ingestibles gained 7%.


California sales fell 2.8% sequentially to $399.1 million and decreased 5.5% compared to a year ago. The prior data was revised. Flower sales were down 15%, while pre-rolls grew 9%. Ingestibles gained 4% and concentrates fell 3% year-over-year.


Sales declined 2.7% in October compared to September, dropping 19.0% from a year ago to $142.9 million. Flower sales were down 17%, pre-rolls declined 19%, while concentrates fell 17%. Ingestibles declined 26% year-over-year.


Sales increased 12.6% sequentially, falling 23.7% from a year ago to $65.5 million. Flower sales dropped 28% from a year ago. Concentrates fell 17%, while ingestibles decreased 22% and pre-rolls declined 20%.


Sales in October fell 2.0% from September to $79.4 million, down 21.2% from a year ago. Flower sales decreased 31% year-over-year. Ingestibles were down 9%, while pre-rolls dropped 8% and concentrates declined by 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.

Exclusive article by Alan Brochstein, CFA
Alan Brochstein, CFA
Based in Houston, Alan leverages his experience as founder of online community 420 Investor, the first and still largest due diligence platform focused on the publicly-traded stocks in the cannabis industry. With his extensive network in the cannabis community, Alan continues to find new ways to connect the industry and facilitate its sustainable growth. At New Cannabis Ventures, he is responsible for content development and strategic alliances. Before shifting his focus to the cannabis industry in early 2013, Alan, who began his career on Wall Street in 1986, worked as an independent research analyst following over two decades in research and portfolio management. A prolific writer, with over 650 articles published since 2007 at Seeking Alpha, where he has 70,000 followers, Alan is a frequent speaker at industry conferences and a frequent source to the media, including the NY Times, the Wall Street Journal, Fox Business, and Bloomberg TV. Contact Alan: Twitter | Facebook | LinkedIn | Email

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