Cannabis Products Increasing Market Share in Oregon, Elsewhere
There are many potential reasons for cannabis consumers to utilize concentrates, extracts, or infused products instead of the plant’s “flower” or “bud”, from avoiding the potential carcinogens in smoke to just wanting to avoid the smell the usual forms of combustion can admit. Additionally, there could be medical reasons that patients need a higher THC dose, or a CBD-only product, or something that may help them sleep, or otherwise improve their livelihood. Whatever the reason, the facts don’t lie, as USA Today reported on the fact that cannabis products are increasing their market share in legal, regulated states like Oregon and Colorado:
“The actual old-school smoking of cannabis is pretty much out the door,” said Jered DeCamp, co-owner of the Herbal Remedies marijuana store in Salem, Oregon. DeCamp said only about half of his sales are now traditional smoked marijuana.
Marijuana enthusiasts say the trend reflects a desire by consumers for stronger, healthier or more discreet ways to consume cannabis. It’s a pattern seen from Colorado to California to Oregon. Nine states and the District of Columbia have legalized recreational marijuana use.
In Colorado, for instance, smokable marijuana known as “flower” made up 67 percent of all sales at pot shops in 2014, when legal sales began. Today, it’s down to 44 percent, while sales of potent concentrates known as “honey” or “butter” have doubled to 31 percent.
Oregon saw flower sales drop from 51 percent to 44 percent in a single year, and in California, flower sales have dropped 3 percent in just four months this year. The data provided by BDS Analytics show that while overall sales of marijuana products continues to grow, marijuana in its simplest form is losing popularity.
While smoking or vaporizing flower is always going to be popular, we can expect the trend toward various cannabis products to continue as more states, and nations, end prohibition. When cannabis is illegal, consumers are stuck with what the local dealer has on hand, but regulation brings a diverse array of choices. As consumers and patients have more options and learn the benefits of various products, it is only natural for them to seek out whatever may work best for them under their unique circumstances.
The increased market share for marijuana products and items is a trend that those in the cannabis industry, or those thinking of joining, should certainly pay attention to as staying ahead of the curve can be crucial to surviving and thriving in a competitive field. Such trends will be a hot topic at the upcoming International Cannabis Business Conference in Portland, Oregon. Don’t miss the opportunity to learn the latest and network with top professionals with a proven record of success.