Fiscal reports from the first quarter of 2021 show that cannabis sales have increased nationwide since Q1 2020.
Data collected from retail sales in California, Colorado, Nevada, Oregon and Washington State show that among the different cannabis product sales, beverages, capsules and edibles have shown the clearest increases in sales.
Beverages the Fastest-Growing Marijuana Product on the Market
Since the first fiscal quarter of 2020, beverage sales grew by 68% on average, making it the fastest growing cannabis product type.
When looking at the different types of cannabis beverages sold, iced tea, lemonade and fruit beverages sales witnessed the largest increase since Q4 2020, with an increase of 26.7% in sales, followed by tea, coffee and cocoa with a 16.1% increase in sales, and carbonated beverages with an increase of 14.7% in sales.
Along with an increase in beverage sales, capsules and edibles were also among the cannabis products that saw the largest increases in sales, with an increase of 5.1% and 5.9% in sales from the previous quarter, respectively.
Vape, Pre-roll and Flower Product Sales Lagging Behind
Vapes, pre-rolls and flower products, conversely, have shown the slowest growth in the same time period. Vape products saw an increase of 2.2% from the fourth fiscal quarter of 2020, while pre-rolls only saw an increase of 0.8% in sales from Q4 2020.
While flower sales have declined over the past fiscal quarter, their sales still increased overall over the past year by 32%; furthermore, flower sales still dominate the cannabis market in terms of market share, and are expected to increase over the course of the 2021 fiscal year.
As the country begins to emerge from the Coronavirus pandemic, marijuana sales patterns will likely shift, but sales will undoubtedly continue to grow.
Additional Resources:
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