Cannabis Markets Show Improved Growth Again

February 6, 2024 | by magnews24.com

New Cannabis Ventures offers readers this easy-to-read exclusive summary of BDSA’s monthly cannabis sales data for 11 states.

Cannabis sales increased 1.0% sequentially in December after decreasing a small amount in November, according to cannabis data analytics firm BDSA. Looking at a per-day basis, sales increased 4.4% sequentially. In this review, we share the results by state, beginning with the western markets and then concluding with the eastern markets. In total, BDSA estimates that sales across the 11 markets totaled $1.84 billion during the month.

Western Markets

BDSA provides coverage for Arizona, California, Colorado, Nevada and Oregon. In December, year-over-year growth  was negative in 4 of the 5 states, with the annual growth rates ranging from -17.3% in Colorado to 2.6% in Oregon. Growth rose sequentially in all, though it fell on a per-day basis in Arizona and California.

Eastern Markets

BDSA provides coverage for Florida, Illinois, Maryland, Massachusetts, Michigan and Pennsylvania. In December, year-over-year growth ranged from 2.8% in Massachusetts to +135.4% in Maryland, which recently introduced adult-use. Note that Florida and Pennsylvania are medical-only markets. Sequential growth was  positive in all markets.  The annual growth in Florida fell from November and was the lowest yet, and annual growth was meager except in two states.

For readers interested in a deeper look at cannabis markets across these eleven states and more, including segmentation by additional product categories, brand and item detail, longer history, and segmentation by product attributes, learn how BDSA Solutions can provide you with access to actionable data and analysis.

Alan Brochstein, CFA
Based in Houston, Alan leverages his experience as founder of online community 420 Investor, the first and still largest due diligence platform focused on the publicly-traded stocks in the cannabis industry. With his extensive network in the cannabis community, Alan continues to find new ways to connect the industry and facilitate its sustainable growth. At New Cannabis Ventures, he is responsible for content development and strategic alliances. Before shifting his focus to the cannabis industry in early 2013, Alan, who began his career on Wall Street in 1986, worked as an independent research analyst following over two decades in research and portfolio management. A prolific writer, with over 650 articles published since 2007 at Seeking Alpha, where he has 70,000 followers, Alan is a frequent speaker at industry conferences and a frequent source to the media, including the NY Times, the Wall Street Journal, Fox Business, and Bloomberg TV. Contact Alan: Twitter | Facebook | LinkedIn | Email

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