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Maryland Cannabis Sales
Dec, 2024
Overview
Maryland's cannabis market has demonstrated a robust growth trajectory over the past two years, marked by significant fluctuations in sales volumes and pricing dynamics. As of December 2024, the average item price in Maryland stands at $27.81, a slight decrease from the previous month, reflecting a broader trend of price stabilization after periods of volatility. Total sales for December 2024 reached approximately $94.34 million, with a year-over-year growth rate of -2.2%, indicating a slight contraction compared to the explosive growth observed in earlier months.
The market's growth has been influenced by various factors including regulatory changes, consumer preferences, and economic conditions. Despite a month-over-month sales decline of 3.5% in December 2024, the overall unit growth over the year suggests a continuing interest and expansion in consumer base, which grew by 9.9% compared to the previous year. This growth in units sold, against a backdrop of declining prices, suggests an increasing market penetration and consumer adoption of cannabis products in Maryland.
Dec, 2024
Sales
Year Over Year
Growth
Market Comparison
When compared to other states, Maryland's cannabis market exhibits unique characteristics in terms of pricing and growth rates. For instance, New York and Ohio have shown remarkable year-over-year sales growth rates of 355.1% and 74.4% respectively, with significantly higher average item prices of $35.96 and $33.42. In contrast, Maryland's market has a higher average price point but a modest growth rate, indicating a mature market with stable consumer demand.
This comparative analysis highlights Maryland's position within the broader national context, providing valuable insights for stakeholders looking to understand regional market dynamics and opportunities for growth. For further exploration of state-by-state comparisons and detailed market segmentation, Headset Insights remains an invaluable resource.
Maryland Weed Prices
Category Performance
The Flower category in Maryland has shown a different trend compared to the overall market. In December 2024, Flower accounted for a significant portion of the market with total sales amounting to approximately $44.73 million. However, it experienced a year-over-year sales decline of 8.4% and a decrease in units sold by 1.2%. The average item price for Flower in December 2024 was $38.07, reflecting a decrease from previous months.
Segment analysis within the Flower category reveals nuanced consumer preferences and market dynamics. For a deeper dive into specific segments such as Sativa, Indica, and Hybrids, and their respective brand performance, consider leveraging Headset Insights for detailed analytics and trends.
Product Category Market Share In Maryland
Historical Cannabis Sales In Maryland
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A look at last year's 4/20
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