Cannabis-focused market research firm BDS Analytics this week published the first of what it expects to be monthly cannabis sales reports. The first report, which tracks cannabis-related spending in five American states with some form of legal access to marijuana, shows dramatic growth in sales of non-smokable forms of cannabis over the first ten months of this year.
Roughly US$48-million was spent on edible cannabis products in January 2018 by consumers in Arizona, California, Colorado and Oregon, the report found. In October, sales of edibles in those four states topped US$75-million, representing an increase of more than 56 per cent. Cannabis products that can be vaporized generated nearly US$61.8-million in those four states in January, but that figure jumped 81 per cent to US$111.9-million in October. Concentrates, which include pills, tinctures and other forms of cannabis that cannot be smoked or vaporized, racked up US$38.2-million in sales over the month of January before climbing more than 23 per cent to US$47.1-million in October.
“This will prove to be a significant insight as flower rapidly becomes a community product,” BDS Analytics CEO Roy Bingham said in a release, “and growth in the United States cannabis market is largely driven by new product categories.”