Marijuana Business Factbook 2019

214 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 4.08: Colorado’s Recreational Marijuana Market: Average Item Price By Category & Year Source: Headset © 2019 Marijuana Business Daily, a division of Anne Holland Ventures Inc. All rights reserved. Colorado's Recreational Marijuana Market: Average Item Price By Category & Year 2016 2017 2018 $15 $20 $25 $30 $35 $40 $45 Average Item Price $42.30 $34.20 $17.20 $17.90 $31.40 $25.90 Vape Pens Dabbable Concentrates Edibles Vape pens and concentrates are facing significant price declines. In Colorado, the price of vape pens declined 19% between 2016 and 2018, while concentrates decreased 18%. This is stems in part from the commoditized nature of the two categories, with increased competition pushing down prices and lowest-cost brands winning at the retail counter. Manufacturing capacity for vape pens also has risen to meet consumer demand, translating to lower cost to produce the product. Edibles prices have been stable, owing to their status as more of a specialty good than a commodity. Brands within this category have been able to compete and differentiate themselves on factors other than price. An increasing number of multistate manufacturers are working with award- winning chefs to develop products that are not only effective but tasty, allowing them to compete on flavor. Many higher-end edibles manufacturers also use value-added production practices to appeal to consumers, such as sourcing organic and free-trade ingredients.