Marijuana Business Magazine April 2020
Marijuana Business Magazine | April 2020 20 Multistate operators capitalize on smokable flower sales as Trulieve continues to dominate state market MJ Firms Jockey for Florida Market Share InvestorIntelligenceSnapshot | Craig Behnke and Mike Regan F lorida is a large and lucrative medical marijuana market with several multistate operators doing business in the state. Keeping track of state consumption trends and who is gaining or losing market share on store count, grams of THC, grams of CBD and ounces of smokable marijuana can provide solid investment insight. Marijuana in smokable form is the most popular product for consuming THC in Florida, accounting for approximately 65% of total THC consumption. That share of the market has been steadily rising since Florida started reporting data on marijuana in smokable form in July 2019. Because smokable marijuana is the largest consumption category and continues to take market share in Florida, it’s important to track the companies that are gaining or losing share within the category. The table on page 21 shows monthly data for the companies with the top five market-share positions and how the share of each trended on a monthly basis from July 2019 through February 2020. Trulieve is the clear market-share leader, but the company lost a bit of share between July 2019 and February 2020. The biggest growth came from Parallel, which saw market share rise almost eightfold to 8.6% in February. AltMed Florida also has experienced impressive share gain during the same time period. Conversely, Curaleaf and Liberty Health Sciences have been losing significant market share in the category. Curaleaf’s market share fell nearly 71% between July 2019 and February 2020. Liberty Health Sciences’ market share fell 32% during the same period. Source: Florida Department of Health and MJBizDaily ’s Investor Intelligence Copyright 2020 Marijuana Business Daily , a division of Anne Holland Ventures Inc. Florida Cannabis Market Share Over Time Week of Market Share in Florida
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