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Maryland Cannabis Sales
Apr, 2024
Overview
The Maryland cannabis market has experienced a significant surge, with a year-over-year sales growth of 135.4% as of April 2024. This remarkable increase is a testament to the market's rapid expansion and consumer demand. The average item price in Maryland has seen a slight decrease from March 2024 to April 2024, dropping from $30.64 to $29.56. Despite this, the total sales for April 2024 reached approximately $91.8 million, with over 3.1 million units sold. However, month-over-month growth indicates a slight contraction of -4.3% in sales, suggesting a need to monitor the market closely for stabilization or further trends.
The Maryland market's pricing trends are particularly noteworthy. While the average item price remains higher than in many other states, the recent decrease could indicate a shift towards more competitive pricing or changes in consumer preferences. This pricing dynamic, coupled with the impressive growth in sales, positions Maryland as a distinctive market within the broader national landscape.
Apr, 2024
Sales
Year Over Year
Growth
Market Comparison
When comparing Maryland to other markets in the USA, it's clear that MD's growth rates are exceptional. For instance, Maryland's year-over-year sales growth of 135.4% far exceeds that of mature markets like Colorado and Washington, which saw declines of -9.6% and -2.6%, respectively. Additionally, Maryland's average item price of $29.56 is higher than the average in states like Oregon ($13.29) and Michigan ($11.58), which could indicate a premium product mix or less price competition.
The Maryland market's unique position is further highlighted by its pricing, which remains on the higher end. This could be attributed to a variety of factors, including product quality, brand positioning, and market maturity.
For those seeking a deeper understanding of the Maryland cannabis market or other states, Headset Insights offers comprehensive data and analysis tools to explore trends, consumer behavior, and market dynamics.
Maryland Weed Prices
Category Performance
One category that stands out in Maryland is Pre-Rolls, which has shown an exceptional year-over-year unit growth of 241.9%. Within this category, the 'Hybrid - Single Strain' segment is particularly interesting, with a year-over-year sales growth of 331.0% and unit growth of 284.6%. This segment's average item price in April 2024 was $14.34, reflecting a slight decrease from the previous month.
The top brand in the 'Hybrid - Single Strain' segment for October 2023 was Verano, with total sales of $746,767 and an average item price of $25.00. Following closely were District Cannabis and SunMed, with total sales of $535,361 and $533,670 respectively.
Product Category Market Share In Maryland
Historical Cannabis Sales In Maryland
Maryland Cannabis Reports
A deep dive into the Maryland cannabis market
A high-level overview of the Maryland cannabis market
Maryland Cannabis News
A look at Maryland’s first weeks of adult-use sales
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A look at last year's 4/20
Get More Maryland Cannabis Market Data