Chart of the Week: Sales of marijuana concentrates, edibles surging in Colorado

By Marijuana Business Daily staff

Demand for cannabis concentrates and edibles is exploding in Colorado, offering a window into trends that will likely play out in the larger marijuana industry over time.

Retail sales of concentrates in the state’s medical and recreational markets surged 125% in the first quarter of this year from the same period in 2015, according to BDS Analytics, which provides cannabis industry data based on point-of-sale information it gathers from retailers.

Edibles sales, meanwhile, rocketed 53%.

Those gains far outpace the 11% rise in sales of marijuana flower, showing that demand trends in Colorado’s cannabis industry are evolving quickly.

In the first quarter of 2016, concentrates and edibles accounted for about a third of overall marijuana sales, up from just 24% a year earlier. Growth in concentrates sales accounted for most of that increase.

Consumers and patients are increasingly looking for inconspicuous and healthier ways to consume cannabis, and concentrates – particularly oils used in vape pens – fit the bill.

Dabbing has also exploded in popularity, both in Colorado and nationwide.

Tom Jones, director of analytics for BDS, said he expects concentrates and edibles sales to eventually surpass revenues from flower – not only in Colorado, but also nationwide.

“The share of flower in dollars has dropped from 71% (of total sales) last year to 58% this year” in Colorado, Jones said. “That’s a big change, and we absolutely expect that flower will diminish to a minority share.”

Jones pointed out that growth is still strong for flower, however, indicating that Colorado’s overall marijuana industry is extremely healthy.

2 comments on “Chart of the Week: Sales of marijuana concentrates, edibles surging in Colorado
  1. RAM on

    It’s a generational/personal philosophy phenomenon, millenials prefer the concenstrates/hypocritical straight types who frown on “inhaling” have no problem taking a nibble here and there, this is known, each to there own!

    Reply
  2. bongstar420 on

    Ironically, concentrates and edibles are the sectors of production that rich people can capitalize most effectivly because the growers skills are not as necessary for producing these products and the quality necessary is easier to generate at large scale (the only way rich people compete since they hire other people to do the work instead of doing it themselves)

    Reply

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