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Massachusetts Cannabis Sales
Apr, 2024
Overview
The Massachusetts cannabis market has demonstrated a resilient growth pattern, with the most recent data indicating a 5.4% year-over-year increase in total sales for April 2024, reaching $133.1 million. This growth is coupled with a notable expansion in total units sold, which surged by 28.6% compared to the previous year. Despite this positive trajectory, the average item price has experienced a slight decline from $23.27 in April 2023 to $19.07 in April 2024, suggesting a market that is becoming increasingly competitive and possibly more accessible to a broader range of consumers.
The market's consistent growth is underpinned by a diverse range of product categories, each with its own unique performance metrics. While some categories like Capsules have seen a decline in both sales and unit growth, others such as Pre-Rolls have shown remarkable increases, highlighting the dynamic nature of consumer preferences within the state's cannabis landscape.
Apr, 2024
Sales
Year Over Year
Growth
Market Comparison
When comparing Massachusetts to other states, it's evident that the market size varies significantly. For instance, California, the largest market, reported $358.69 million in sales for April 2024, dwarfing Massachusetts' $133.14 million. However, Massachusetts outpaces states like Nevada, which reported $60.50 million in sales for the same period.
In terms of growth rates, Massachusetts' year-over-year sales growth of 5.4% is robust, especially when compared to markets like Colorado, which saw a -9.6% decline. The average item price in Massachusetts is also competitive, sitting at $19.07, which is lower than states like Illinois at $31.13, indicating a market that is positioning itself to be more cost-effective.
For a more detailed analysis or to explore additional insights, consider leveraging Headset Insights for an in-depth dive into the data.
Massachusetts Weed Prices
Category Performance
Focusing on the Pre-Roll category, we observe a distinct trend that sets it apart from the overall market. In April 2024, the Pre-Roll category saw a 1.1% month-over-month sales growth and an impressive 50.0% year-over-year unit growth, with total sales amounting to $25.56 million. This suggests a growing consumer preference for convenience and perhaps a shift towards more social consumption patterns as the stigma around cannabis continues to diminish.
Within the Pre-Roll category, the 'Hybrid - Single Strain' segment stands out with a 1.8% month-over-month sales growth and a substantial 54.3% year-over-year unit growth. This segment's performance indicates a strong consumer preference for hybrid strains that offer a balance of effects, catering to both medicinal and recreational users.
In October 2023, Happy Valley led the 'Hybrid - Single Strain' segment with $1.13 million in sales, followed by Dogwalkers and Nature's Heritage. These brands have successfully captured the market by offering a variety of skus and competitive pricing.
Top Cannabis Brands in Massachusetts
Product Category Market Share In Massachusetts
Historical Cannabis Sales In Massachusetts
Massachusetts Cannabis Reports
A deep dive of the Massachusetts cannabis market
Massachusetts Cannabis News
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A look at last year's 4/20
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