Market Insights Snapshot
Looking at the performance of Cannaceutica in the Capsules category, there are some interesting trends to note. In the state of California, Cannaceutica wasn't among the top 20 brands in this category for the months of August and July 2023. However, they were ranked 16th and 17th in June and May respectively, indicating a recent drop in their market position. While this might seem like a negative trend, it's worth noting that their sales in June were considerably higher than in May, hinting at a potential increase in overall market share despite the drop in rankings.
Contrastingly, in the state of Maryland, Cannaceutica has shown a positive trend in the Capsules category. They climbed up the rankings from 7th in July to 5th in August 2023. The lack of ranking data for June and May suggests that they were not in the top 20 brands in those months, indicating a significant improvement in their market position in recent months. An interesting fact to note is the substantial increase in sales from July to August, which supports this upward trend. However, it's important to consider other factors that could be influencing these movements, such as changes in market competition or consumer preference.
In the Capsules category within Maryland, Cannaceutica has shown a positive trend, moving up from 7th rank in July 2023 to 5th in August 2023. This upward movement in ranking indicates a growth in market position relative to competitors. However, it's worth noting that Cannaceutica was not ranked in the top 20 in May and June 2023, suggesting a recent surge in popularity or sales. In comparison, Nature's Heritage has consistently held a strong position, ranking 3rd in August, July, and June, and 2nd in May. Evermore Cannabis Company also shows a steady performance, maintaining 4th position in August and July, and 5th in June and May. Kalm Fusion (K Fusion) has remained steady at 6th position, while Avexia dropped out of the top 20 in August after holding 5th and 4th positions in July and June respectively. These shifts in ranking among competitors suggest a dynamic and competitive market for cannabis capsules in Maryland.
In August 2023, the top-performing product for Cannaceutica was the Broad Spectrum Cannabis Oil Capsule 40-Pack (100mg), maintaining its position from the previous month with sales reaching 191 units. Notably, this product has shown a significant increase in sales from July, when it sold 50 units. The Broad Spectrum Cannabis Oil Capsule 20-Pack (16.6mg CBD, 50mg THC) and the CBD:THC Broad Spectrum Cannabis Oil Capsule 20-Pack (50mg CBD, 150mg THC), though not ranked in August and July, were previously top performers in June and May respectively. The latter product, with 119 units, had the highest sales recorded in this dataset in May. These shifts in rankings indicate a dynamic market with changing customer preferences.