New Cannabis Ventures offers readers this easy-to-read exclusive summary of BDSA’s monthly cannabis sales data for 11 states.
Following a sharp bounce in December from November, cannabis sales plunged in January across markets covered by cannabis data analytics firm BDSA. Looking at a per-day basis, all of these markets advanced in February, while in March they remained flat. Compared to a year ago, sales were down in 6 markets, with ongoing pressure from declining flower sales. In this review, we will look at the markets one-by-one, beginning with the more mature western markets and then concluding with the newer eastern markets. In total, sales across the 11 markets totaled $1.49 billion during the month.
BDSA provides coverage for the relatively mature markets of Arizona, California, Colorado, Nevada and Oregon. In March, year-over-year growth ranged from -28.8% in Nevada to 50.3% in Arizona compared to a year ago.
Combined sales of $111.7 million were up 50.3% compared to a year ago, when there were only medical cannabis sales in the BDSA database, and up 9.5% from February. Medical sales of $45.7 million were down 39% from a year ago and up 5% sequentially. Adult-use sales of $66.1 million increased 13% from February. Flower sales were up 22% from a year ago, while pre-rolls expanded 224%. Concentrates grew 59%, and ingestibles rose 82%.
California sales increased 9.5% sequentially to $282.8 million and dropped 18.9% compared to a year ago. Flower sales continue to drag down overall sales, declining 28%, with pre-rolls gaining 2%. Ingestibles fell 14%, while concentrates dropped 17% from a year ago during March.
Sales grew 7.5% in March compared to February, dropping 19.1% from a year ago to $167.4 million. Flower, down 24%, drove overall sales lower, with pre-rolls declining 8%, ingestibles dropping 17% and concentrates falling 16%.
Sales increased 0.2% compared to February, falling 28.8% from a year ago to $59.9 million.
Similar to other markets, flower sales are the main driver of the decline, with March sales down 37% from a year ago. Concentrates decreased 16%, while ingestibles fell 28% and pre-rolls declined 17%.
Sales in February grew 10.2% from March to $88.5 million, down 19.1% from a year ago. Flower sales were down 32% from a year ago. Ingestibles fell 13%, while pre-rolls remained flat. Concentrates decreased 7% compared to a year ago.
BDSA provides coverage for the relatively new markets of Florida, Illinois, Maryland, Massachusetts, Michigan and Pennsylvania. In March, year-over-year growth ranged from -6.4% in Maryland to 19.9% in Florida. Note that Florida, Maryland and Pennsylvania are medical-only markets.
Florida sales have been relatively steady over the past year. In March, they rose 10.3% from February to $177.2 million, up 19.9% from a year ago. Flower sales grew 4%, as pre-rolls declined 16%. Concentrates increased 34%. Ingestibles, a relatively new category for the state, grew 73% and represented 11.7% of overall sales.
We previously published data released by the state regarding the 12.5% growth in sales in March, which represented a 14.6% increase from February. BDSA estimated sales of $162.7 million, up 14.4% sequentially and up 12.3% from a year ago. Flower sales grew 12%. Pre-rolls expanded 32%, while concentrates grew 12%. Ingestibles gained 6%.
Sales expanded 9.6% from February to $44.9 million, down 6.4% from a year ago. Flower sales decreased 5%, while pre-rolls fell 6%. Ingestibles declined 0.3% and concentrates slipped 10%.
Sales grew 1.6% from February and 14.6% compared to a year ago to $141.9 million. Flower sales expanded 11%, pre-rolls gained 25%, ingestibles increased 17% and concentrates rose 12%.
We had previously written about data released by the state indicating that Michigan cannabis sales increased 5.1% in March, which represented a 1% decrease from February. BDSA estimated sales of $153.7 million, down 0.4% sequentially and up 3.5% from a year ago, a slowdown from the 44.4% reported in February. Flower sales grew 5%, while concentrates expanded 12%. Pre-rolls increased 1%, and ingestibles declined 10%.
Sales grew 13.1% in March to $104 million, down 2.8% compared to a year ago. Growth was depressed by the recent vape recall, as that category fell 8%. Flower sales expanded 3.1%, while ingestibles gained 2.5%.
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 unlimited access to the most accurate and actionable data and analysis.