In Canada, the Concentrates category was the the fifth largest by total sales in May 2022. It is the third highest revenue of all ‘Cannabis 2.0’ categories with approximately 4% market share. In May, Ontario Concentrate retail sales broke $5M.
Concentrate sales in emerging US markets
Among emerging markets in the US, Arizona had the highest total Concentrate sales in May, reaching nearly $15M. Arizona was followed by Michigan with $13.2M and Illinois with $11.8M in Concentrate sales.
Concentrate sales in legacy US markets
As usual, California had the highest total sales to the Concentrates category of any US legacy state with $27.1M in May 2022. Colorado, in second place, was much closer behind California here than we usually see with more than half of the sales of California ($15.4M). Washington ($10.2M) and Oregon ($9.6M) had very close Concentrate sales totals while Nevada only had $3M in May.
California no longer has a cannabis cultivation tax after Governor Newsom signed the new state budget late last month. While the budget also included a cap of 15% on the cannabis excise tax for three years, the governor has stated that this tax rate may need to increase in the future.