Marijuana Business Factbook 2019

212 Marijuana Business Factbook 2019 Chapter 4 | Financial & Operational Data: Cannabis Product Manufacturers © Copyright 2020, Marijuana Business Daily , a division of Anne Holland Ventures Inc. You may NOT copy this Factbook, or make public the data and facts contained herein, in part or in whole. For more copies or editorial permissions, contact CustomerService@MJBizDaily.com or call (720) 213-5992, ext. 1. CHART 4.06: Washington State’s Recreational Marijuana Market: Number of Brands & Average Number Of Products Per Brand By Category & Year Source: Headset © 2019 Marijuana Business Daily, a division of Anne Holland Ventures Inc. All rights reserved. Washington State's Recreational Marijuana Market: Number Of Brands & Average Number Of Products Per Brand By Category & Year Dabbable Concentrates Vape Pens Edibles Beverages Capsules Tinctures & Sublinguals Topicals 2016 2017 2018 2016 2017 2018 2016 2017 2018 2016 2017 2018 2016 2017 2018 2016 2017 2018 2016 2017 2018 0 100 200 300 400 500 600 Number Of Brands 0 10 20 30 40 50 Average Number Of Products Per Brand 439 626 625 51 39 38 159 228 232 41 44 35 77 96 97 31 33 24 27 34 35 14 15 9 23 35 29 10 10 11 17 28 29 12 12 11 41 68 66 7 7 7 Number Of Brands Average Number Of Products Per Brand nctures & The infused product segment is extremely crowded. In Washington state alone, there were 625 brands competing in the concentrates category in 2018. This level of competition makes it difficult for brands to stand out and capture a significant share of the market. With so many brands available and limited shelf space, retailers can afford to drop underperforming brands and products in favor of something new or with greater appeal. The number of individual brands is largest among the more commoditized cannabis product categories ― concentrates and vape pens. Cannabis product manufacturers have capitalized on the competitive marketplace by producing multiple goods: Washington’s 625 concentrates brands produced an average of 39 products each in 2018 , while the state’s 232 vape pen brands produced an average of 41 products each. Within these categories, both the number of brands and products per brand grew significantly from 2016 to 2017, before tapering off from 2017 to 2018. For the less commoditized and less crowded categories, growth in the number of brands and the number of products per brand has increased more slowly. The average number of products per brand is still increasing, albeit marginally among edibles and beverages brands. Growth in beverages may continue as mainstream companies look to this category for their entry into the cannabis industry.