The regulated cannabis industry in Washington state continues to show significant revenue growth vs the year prior, with 2016 retail sales numbers for the beginning of 2016 (through May) totalling $229.04M, producer/processor revenues at $129.66M and total excise tax revenue for the state coming in at $84.73M. Compared to the same time period (January to May) in 2015 we see a 142% increase in combined revenues for growers/processors and retailers. For the same time period, 2015 retailer revenues were at $105.66M, producer/processor revenues at $42.66M and excise tax revenue at $37.1M. Driving some of the growth is the addition of new retail operations opening, as 2016 sees the introduction of 64 new retailers throughout the state, a 33% increase in locations.
The majority of the industry growth from January to May was in Flower, Vapor Pens, and Concentrates which together contributed to 59% of the total growth. These segments are large so their total dollar growth is expected to be a large percentage of total industry growth.
While Flowers and Vapor Pens contributed the most to total growth Topicals and Tincture & Sublinguals had the largest percentage growth month over month from January to May. These categories are both small and thus they did not contribute as much to total growth.
Please fill out this simple form to get access to the full report. Headset industry reports provide vital market insights to help you make truly informed decisions. Get perspective into the following areas: