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Maryland Cannabis Sales
Oct, 2024
Overview
Maryland's cannabis market has demonstrated a resilient growth pattern, particularly noticeable in the recent fiscal year. Despite a slight month-over-month sales decline of 2.5% in October 2024, the year-over-year growth remains positive at 0.8%. This indicates a steady consumer demand and an expanding market base. The average item price in Maryland has seen a reduction from $32.29 in October 2023 to $28.51 in October 2024, suggesting a market adjustment that could be responding to consumer price sensitivity or increased competition.
The total sales in Maryland for October 2024 amounted to approximately $90.71 million, with over 3.18 million units sold. This sales volume, coupled with a 14.1% increase in unit sales year-over-year, highlights a growing consumer base and an increasing transaction frequency. The market's resilience is further underscored by its performance over the past 24 months, showing significant spikes and a general upward trend in sales, peaking with an 89.7% increase in July 2023.
Oct, 2024
Sales
Year Over Year
Growth
Market Comparison
When comparing Maryland's market to other states, it stands out in terms of high average item prices and significant growth rates. For instance, Maryland's average item price of $28.51 in October 2024 is higher than that of Colorado ($15.27) and Oregon ($13.28), which are known for their mature markets. The year-over-year growth in Maryland (+0.8%) contrasts sharply with the declines seen in states like Nevada (-9.0%) and Colorado (-5.3%).
Maryland Weed Prices
Category Performance
The Flower category in Maryland, despite a slight year-over-year decline in sales by 6.8%, remains a significant segment with October 2024 sales reaching approximately $43.26 million. This category's performance is nuanced when dissected into segments. For instance, the 'Ground Flower' segment saw a remarkable year-over-year growth of 348.9% in sales, indicating a surge in consumer preference for this specific product type. In contrast, the 'Sativa' segment experienced a sharp decline in both sales and units sold, with figures dropping by 46.9% and 48.2% 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