Most Cannabis Markets Experience Annual Declines in Sales in May

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

Looking at a per-day basis, sales decreased sequentially in 9 out of 11 states according to cannabis data analytics firm BDSA. Compared to a year ago, sales were down in 7 markets, mostly driven by declining flower growth. 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 $1.66 billion during the month.

Eastern Markets

BDSA provides coverage for Florida, Illinois, Maryland, Massachusetts, Michigan and Pennsylvania. In May, year-over-year growth ranged from -10.2% in Maryland to 23.6% in Michigan. Note that Florida, Maryland and Pennsylvania are medical-only markets.


In May, sales remained flat sequentially at $186.4 million, up 23.6% from a year ago. Flower sales grew 28%, as pre-rolls increased 2%. Concentrates gained 30%. Ingestibles expanded 10%.


We previously published data released by the state showing that sales declined 2.2% from April and increased 6.2% from May 2021. BDSA estimated sales of $159.9 million, down 2.2% sequentially and up 6.2% from a year ago. Compared to last year, flower sales expanded 2%. Pre-rolls gained 12% and ingestibles grew 1%, while concentrates increased 13%. 


Sales fell 4.5% from April to $42.3 million, down 10.2% from a year ago. Flower and concentrates sales decreased 12% and pre-rolls fell 13%, while ingestibles grew 5%.


Sales declined 1.8% sequentially and increased 9% compared to a year ago to $144.1 million. Flower sales expanded 1%, pre-rolls jumped 44%, ingestibles increased 11% and concentrates grew 4%.


We had previously written about data released by the state indicating that Michigan cannabis sales declined 4% sequentially and increased 25% year-over-year. BDSA estimated sales of $186.5 million, down 4.4% sequentially and up 23.6% from a year ago. Flower sales increased 21%, while concentrates grew 38%. Pre-rolls jumped 66% and ingestibles declined 7%.


Sales fell 5.6% in May to $96.3 million, down 7.6% compared to a year ago. Flower sales declined 5% year-over-year, concentrates fell 10%, while ingestibles decreased 3%.


Western Markets

BDSA provides coverage for Arizona, California, Colorado, Nevada and Oregon. In May,, year-over-year growth ranged from -25.4% in Nevada to -10.2% in Arizona compared to a year ago.


Combined sales of $108.9 million were down 3.1% from April and 10.2% compared to May 2021. Medical sales of $46.5 million were down 5% sequentially and 33% from a year ago. Adult-use sales of $62.3 million declined 2% from April and increased 19% year-over-year. Flower sales were down 21% from a year ago, while pre-rolls gained 36%. Concentrates fell 9% and ingestibles decreased 2%.


California sales increased 3.4% sequentially to $442.2 million and fell 7.6% compared to a year ago. Flower sales were down 16%, while pre-rolls grew 11%. Ingestibles fell 7% and concentrates dropped 5% from a year ago during May.


Sales declined 11.9% in May compared to April, dropping 23.8% from a year ago to $147.8 million. Flower sales were down 30%, with pre-rolls and concentrates falling 18%. Ingestibles declined 22% year-over-year.


Sales increased 15.8% sequentially, falling 25.4% from a year ago to $65.3 million. May flower sales dropped 37% from a year ago. Concentrates fell 11%, while ingestibles decreased 17% and pre-rolls declined 12%.


Sales in May fell 5.8% from April to $84.7 million, down 19.9% from a year ago. Flower sales were down 32% year-over-year. Ingestibles grew 9%, while pre-rolls declined 6% and concentrates decreased 19%. 

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.

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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