The Nevada cannabis market is unique among states with legal recreational cannabis regimes. The role of tourism plays a big role in shaping retail trends. The concentration of sales in urban centers stands apart. And the state’s regulatory framework offers benefits and challenges for cannabis companies and investors.
The latest Cannabis Intelligence Briefing from Arcview Market Research and BDS Analytics: CBD: Cannabidiol Escapes the Dispensary details CBD’s move from legal cannabis dispensaries to the general retail market. At present, the bulk (65%) of the $1.9 billion in annual spending on CBD products in the U.S. takes place through licensed dispensaries in legal cannabis states.
We’re in no rush to say goodbye to summer, but, as we head into Labor Day weekend, let’s review how the cannabis industry has fared during Labor Day weekends past and other key summer holiday periods:
How many products contain cannabis? Hundreds. Flower – of course – and pre-rolls. Vape pens and concentrates like shatter and Live Resin. Creams and massage oils. Chocolate chip cookies, coffee sodas, pills, strawberry taffy, powders for adding to hot tea or cold juice. Companies are rolling out myriad new products in pot-friendly states every week — it’s remarkable.
When Colorado kicked-off legal adult-use cannabis sales in the United States in 2014, unbranded flower fully dominated the marketplace, capturing more than 60 percent of all sales. Concentrates, edibles and topicals were far behind.
With companies creating everything from sleep-enhancing pills to brownies, butters, carbonated lemon-lime drinks and bags of caramel corn, the edibles marketplace is the most dynamic marketplace within cannabis. It’s not the biggest — that’s flower — nor the fastest-growing – that’s concentrates, but no other large cannabis category competes with edibles’ range of product diversity. It’s a cannabis cornucopia.
How many products contain cannabis? Hundreds. Flower – of course – and pre-rolls. Vape pens and concentrates like shatter and Live Resin. Creams and massage oils. Chocolate chip cookies, coffee sodas, pills, strawberry taffy, powders for adding to hot tea or cold juice. Companies are rolling out a myriad of new products in pot-friendly states every week — it’s remarkable.
Summer 2018 will bring more than warmer temperatures — the season will also turn up the heat on the cannabis market. As Colorado and Washington enter their fifth summer of legal recreational cannabis sales, and California prepares for its first, it is time to examine What’s Hot in Pot(TM).
Back in the day, as in 2015, relatively novel forms of extracts, like shatter and wax, ruled the concentrates marketplace in Colorado. But their reign steadily eroded during 2015 and by the third quarter of 2016 both had been vanquished by vape pens. During that quarter, vapes captured 29 percent of the concentrates market, and sales of shatter and wax each represented 23 percent respectively. This data insight and other insights referenced in this article were pulled from millions of transactions tracked in our GreenEdge™ Retail Sales Tracking platform.
