New Cannabis Ventures offers readers this easy-to-read exclusive summary of BDSA’s 15-state monthly cannabis sales data.
Cannabis sales fell 0.3% sequentially in November, which was up 3.0% on the day. In this review, we break down the results by state, starting with the western markets and then ending with the eastern markets. Overall, BDSA estimates sales in 15 markets totaled $1.80 billion in November, up 4.2 percent from a year ago, driven by strong growth in New York. BDSA updated its Illinois numbers after the state recently changed the way it counts sales.
Western markets
BDSA provides coverage for Arizona, California, Colorado, Nevada and Oregon. In November, the annual growth was negative in 4 provinces. In none of these states did daily growth fall sequentially.
Eastern markets
BDSA provides coverage for Florida, Illinois, Maryland, Massachusetts, Michigan, Missouri, New Jersey, New York, Ohio and Pennsylvania. Annual growth in November ranged from -25.3% in Illinois to +1,370.7% in New York, whose adult-use sales have been included by the BDSA since January but were first included a few months ago. Ohio began using adults in August, spurring growth. Note that Florida and Pennsylvania are medical markets only. Sequential growth was stable in most markets and negative in one market. Annual growth was negative in several markets and increased sharply in two states. We had been warning of a potential slowdown in Florida despite strong dispensary and unit volume growth due to competitive pressure, and it has now declined for three months this year.
For readers interested in a deeper look hemp markets in these fifteen states and more, including segmentation by additional product categories, brand and product details, longer history and segmentation by product attributes, learn how BDSA Solutions can give you access to actionable data and analytics.
Based in Houston, Alan leverages his experience as an online community founder 420 Investorthe first and still the largest due diligence platform focused on 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. time New Cannabis Ventureshe is responsible for content development and strategic alliances. Before turning his attention to the cannabis industry in early 2013, Alan, who began his career on Wall Street in 1986, worked as an independent research analyst with more than two decades of research and portfolio management experience. A prolific writer, with over 650 articles published since 2007 Looking for Alphawhere he has 70,000 followers, Alan is a frequent speaker at industry conferences and frequent source Media including the NY Times, Wall Street Journal, Fox Business and Bloomberg TV. Contact Alan. Twitter: |: Facebook |: LinkedIn: |: El
Illinois released sales figures for several months today. The last time it published data, it was Cannabis for adults in May. The paper today explains that the reason for the missing data was the Metrc transition. “Sales tracking features in Metrc help retailers more accurately and reliably report actual sales, including all discounts and promotions at checkout. A close look at past data shows that some initial discount prices have been collected in previous months.”
Statewide adult cannabis sales rose 7.5% sequentially to $113.1 million in October, up 4.0% on the day. Annual growth was -20.5%. Here is a chart of adult sales over time:
After growing 106% in 2021, 13% in 2022 and 5% in 2023, annual sales for adults are set to grow 5.4% to $1.72 billion in 2024. So far in 2025, they have decreased by 9.9 percent.
There hasn’t been an update from the state on medical cannabis in a while. The state exempts the sale separately from its medical plan, and April issue showed that sales fell 1.6% sequentially to $19.7 million, down 13.2% year over year.
Based in Houston, Alan leverages his experience as an online community founder 420 Investorthe first and still the largest due diligence platform focused on 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. time New Cannabis Ventureshe is responsible for content development and strategic alliances. Before turning his attention to the cannabis industry in early 2013, Alan, who began his career on Wall Street in 1986, worked as an independent research analyst with more than two decades of research and portfolio management experience. A prolific writer, with over 650 articles published since 2007 Looking for Alphawhere he has 70,000 followers, Alan is a frequent speaker at industry conferences and frequent source Media including the NY Times, Wall Street Journal, Fox Business and Bloomberg TV. Contact Alan. Twitter: |: Facebook |: LinkedIn: |: El
Michigan hemp sales for the month of October down from a year ago as they rose 6.5% sequentially, which was +3.1% on a daily basis. Sales of $267.8 million decreased by 0.3 percent compared to last year.
The Michigan Cannabis Regulatory Agency breaks down sales by medical and adult use, with medical sales down 57.7% year-over-year to $0.4 million, down 0.7% sequentially, and adult-use sales down 0.1% year-over-year to $250.9 million, up 6.6% sequentially.
The state breaks down sales by category and provides pricing details by category for both medical and adult;
For adultsMedical
As supply continues to expand, prices for adult flowers have plummeted. The average price of $991 a pound in October fell 2.0% sequentially to near a new record low and fell 16.3% from a year earlier.
Michigan hemp sales will grow 82.1% to $1.79 billion in 2021, 27.9% to $2.29 billion in 2022, and 33.3% to $3.06 billion in 2023. In 2024, they increased by 7.6% to $3.29 billion. expand further as supply becomes more available and as distribution expands.
New Cannabis Ventures’ NCV Newswire aims to gather high-quality content and information about leading cannabis companies to help our readers filter through the noise and stay on top of the most important cannabis business news. The NCV Newswire is edited by an editor and is not, however, automated. Got a secret news tip? Get in touch.
New Cannabis Ventures offers readers this easy-to-read exclusive summary of BDSA’s 15-state monthly cannabis sales data.
Cannabis sales rose 3.4% sequentially in October, a 0.1% daily gain. In this review, we break down the results by state, starting with the western markets and then ending with the eastern markets. Overall, the BDSA estimates sales in 15 markets totaled $2.11 billion in October, up 5.8 percent from a year earlier. Excluding the big gain in New York, which I explain below, sales were down 2.7%. Note that BDSA has revised some data historically.
Western markets
BDSA provides coverage for Arizona, California, Colorado, Nevada and Oregon. In September, the annual growth was negative in 3 states. In four of these states, daily growth declined sequentially.
Eastern markets
BDSA provides coverage for Florida, Illinois, Maryland, Massachusetts, Michigan, Missouri, New Jersey, New York, Ohio and Pennsylvania. Annual growth in September ranged from -6.5% in New Jersey to +1,513.2% in New York, whose adult-use sales have been included by the BDSA since January but were first included a few months ago. Ohio began using adults in August, spurring growth. Note that Florida and Pennsylvania are medical markets only. Sequential growth was flat in most markets, helped by an extra day and negative in one market. Annual growth was negative in several markets and increased sharply in two states. We warned of a potential slowdown in Florida despite strong dispensary and unit volume growth due to competitive pressure, and it has now declined for two consecutive months.
For readers interested in a deeper look hemp markets in these fifteen states and more, including segmentation by additional product categories, brand and product details, longer history and segmentation by product attributes, learn how BDSA Solutions can give you access to actionable data and analytics.
Based in Houston, Alan leverages his experience as an online community founder 420 Investorthe first and still the largest due diligence platform focused on 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. time New Cannabis Ventureshe is responsible for content development and strategic alliances. Before turning his attention to the cannabis industry in early 2013, Alan, who began his career on Wall Street in 1986, worked as an independent research analyst with more than two decades of research and portfolio management experience. A prolific writer, with over 650 articles published since 2007 Looking for Alphawhere he has 70,000 followers, Alan is a frequent speaker at industry conferences and frequent source Media including the NY Times, Wall Street Journal, Fox Business and Bloomberg TV. Contact Alan. Twitter: |: Facebook |: LinkedIn: |: El