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Maryland Cannabis Sales
Mar, 2024
Overview
The Maryland cannabis market has demonstrated a remarkable year-over-year sales growth, with a notable increase of 140.2% from March 2023 to March 2024. This surge is a testament to the expanding consumer base and the growing acceptance of cannabis products within the state. The average item price in March 2024 was $30.11, reflecting a slight decrease from the previous month's average of $30.92. Despite this minor dip, the total sales for March 2024 reached $96.61 million, and the total units sold amounted to 3.21 million, indicating a healthy and burgeoning market.
The month-over-month sales growth for March 2024 stood at 9.3%, with a corresponding unit growth of 12.3%. These figures underscore the market's consistent performance and suggest a steady demand for cannabis products in Maryland. The pricing dynamics and sustained growth patterns present a compelling opportunity for both existing and new market entrants to establish a foothold and cater to the diverse needs of cannabis consumers.
Mar, 2024
Sales
Year Over Year
Growth
Market Comparison
When compared to other states, Maryland's cannabis market size is substantial, with sales figures outpacing several other markets. For instance, Maryland's total sales in March 2024 were $96.61 million, which is significantly higher than Nevada's $62.05 million, despite having a smaller population. The growth rates in Maryland also surpass those in mature markets like Colorado, which experienced a -12.1% year-over-year sales growth.
The pricing in Maryland is higher than in states like Michigan and Colorado, indicating a market that can sustain premium pricing due to consumer demand for quality products. This suggests that Maryland consumers may prioritize product quality over price, presenting an opportunity for premium brands to thrive.
For those interested in a deeper dive into the Maryland cannabis market or other states, Headset Insights offers comprehensive data and analytics services to support strategic decision-making.
Maryland Weed Prices
Category Performance
One category that stands out for its exceptional performance is Pre-Rolls, exhibiting a staggering year-over-year sales growth of 290.2% and unit growth of 287.1%. Within this category, the segment 'Hybrid - Single Strain' has shown an impressive growth trajectory, with total sales reaching $7.52 million and total units at 496,899 for March 2024.
In terms of brand performance within this segment, District Cannabis leads with total sales of $249,388, followed by Curio Wellness and SunMed. These brands have successfully capitalized on the growing consumer preference for pre-rolled products, offering convenience and quality that resonate with the market.
Top Cannabis Brands in Maryland
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
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A look at last year's 4/20
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