Arizona Cannabis Sales

Feb, 2024
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Cannabis Market Data

Overview

Arizona's cannabis market has experienced a dynamic landscape over the past two years. Sales data from March 2022 to February 2024 indicates a fluctuating pattern with a notable decline in total sales from $129.1 million to approximately $103 million, reflecting a year-over-year decrease of 7.7% as of February 2024. Despite this, the market has seen periods of month-over-month growth, such as a 13.8% increase in March 2023. Average item prices have also decreased from $23.44 in February 2023 to $19.99 in February 2024, suggesting a market adjustment to consumer price sensitivity or increased competition among brands.

The market's resilience is evident in the unit sales growth, which has increased by 8.1% year-over-year as of February 2024. This indicates that while consumers are spending less per item, the volume of products sold has grown, potentially pointing to a maturing market where consumers are diversifying their purchases or seeking more budget-friendly options.

$102.98M

Feb, 2024

Sales

-7.7 %

Year Over Year

Growth

Data Snapshot Mar 06, 2024

Market Comparison

When comparing Arizona to other states, it's clear that market dynamics vary significantly. For instance, Maryland's market has seen a staggering year-over-year sales growth of 127.8% and unit growth of 104.5% as of February 2024. In contrast, Colorado has experienced a significant decline in sales by 15.7% and a slight decrease in unit sales by 1.9%.

Arizona's average item price of $19.99 in February 2024 is lower than that of Illinois at $32.90 and higher than Michigan's $12.08, indicating a mid-range pricing strategy within the USA market. The state's month-over-month sales growth is relatively stable, with a slight decrease of 0.4%, suggesting a market that is maintaining its consumer base despite external pressures.

Average Item Prices
Product
Feb, 2024
YoY
Flower (Gram)
$18.36
Flower (Eighth)
$19.24
Edible (10mg)
$9.65
Concentrate (Gram)
$17.06
Top Strain
Wedding Cake
| State | Total Sales (Millions) | MoM Sales Growth | YoY Sales Growth | Average Item Price | |-------|------------------------|------------------|------------------|--------------------| | AZ | $103 | -0.4% | -7.7% | $19.99 | | CA | $324 | -2.4% | -7.6% | $21.18 | | CO | $92 | -2.5% | -15.7% | $16.03 | | IL | $154 | -2.6% | 4.7% | $32.90 | | MD | $86 | -3.3% | 127.8% | $31.00 |
Data Snapshot Mar 06, 2024

Category Performance

Category
Feb, 2024
YoY
$
42.02
M
-6.2
%
$
23.86
M
-13.8
%
$
16.18
M
0.1
%
$
11.71
M
-2.9
%
$
7.55
M
-13.6
%
$
0.93
M
0.0
%
$
0.37
M
-11.9
%
$
0.21
M
-62.5
%

The Edibles category in Arizona, particularly the Gummies segment, showcases a divergent trend compared to the overall market. While the category has seen a slight year-over-year sales growth of 1.0% and a unit growth of 16.1% as of February 2024, the average item price has decreased from $13.58 to $11.82. This resilience in the face of a market downturn is worth noting, as it may indicate a strong consumer preference or increased accessibility for these products.

Top brands in the Gummies segment have capitalized on this trend, with Wyld leading the pack with over $2.3 million in sales and 154,713 units sold at an average price of $15.06. OGEEZ and Baked Bros follow, with sales of $1.17 million and $925,919 respectively. The diversity of brands succeeding in this segment suggests a competitive market with room for growth and innovation.

| Brand Name | Total Sales (Millions) | Total Units | Average Item Price | |------------------|------------------------|-------------|--------------------| | Wyld | $2.33 | 154,713 | $15.06 | | OGEEZ | $1.17 | 89,034 | $13.18 | | Baked Bros | $0.93 | 76,606 | $12.09 | | Gron / Grön | $0.87 | 93,492 | $9.34 | | Wana | $0.65 | 42,045 | $15.39 |
Data Snapshot Mar 22, 2024

Top Cannabis Brands in Arizona

Market Trends

Product Category Market Share In Arizona

Monthly Cannabis Sales

Historical Cannabis Sales In Arizona

Arizona Cannabis Reports

Report
March 7, 2023

A deep dive into the Arizona cannabis market

This report will use real-time data from Headset Insights to examine Arizona's place in the American legal cannabis landscape.
Report
October 13, 2021

A high-level overview of the Arizona cannabis market

This report provides an overview of the Arizona cannabis market, exploring various sales trends including month over month growth, cannabis category trends, and some pricing insights.

Arizona Cannabis News

Blog
April 21, 2023

A look at last year's 4/20

A recap of last year's 4/20 sales trends across US and Canada.
Blog
February 9, 2022

Examining Arizona’s first year of adult-use cannabis sales

We take close look at Arizona's impressive first year of adult-use cannabis sales.
Blog
March 30, 2021

Projections for Arizona adult-use cannabis sales

Take a look at our high level estimate of Arizona cannabis sales for year one of adult-use legalization.
User rating
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Emerging

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