Arizona Cannabis Sales

Jan, 2024
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Cannabis Market Data

Overview

The Arizona cannabis market has experienced a dynamic landscape over the past two years. While the market saw a peak in total sales reaching $132 million in February 2022, it has since faced a downward trend, with January 2024 sales at approximately $103.4 million. This represents a significant year-over-year decline of 9.7% from January 2023. Average item prices have also seen a decrease, from $23.32 in January 2023 to $20.11 in January 2024, indicating a potential shift in consumer purchasing behavior or market saturation.

Despite the overall decline, the market has shown resilience with month-over-month fluctuations. For instance, December 2023 witnessed a 5.5% increase in sales from the previous month, although this was followed by a 7% drop in January 2024. These variations suggest a market that is still finding its equilibrium amidst evolving consumer preferences and regulatory landscapes.

$103.44M

Jan, 2024

Sales

-9.7 %

Year Over Year

Growth

Data Snapshot Feb 10, 2024

Market Comparison

When comparing Arizona to other states, it's evident that market dynamics vary significantly. For instance, California's market size towers over Arizona's with January 2024 sales of $332.4 million, while Michigan, with lower average item prices, reported sales of $242.4 million. Arizona's average item price of $20.11 is modest in comparison to states like Illinois, where the average is $32.92, and New York, at $40.06.

Arizona's year-over-year growth rate of -9.7% contrasts with states like Oregon, which saw a smaller decline in sales, and Washington, where sales remained relatively stable. This suggests that Arizona's market may be more sensitive to price changes or competition than other markets.

Average Item Prices
Product
Jan, 2024
YoY
Flower (Gram)
$17.32
Flower (Eighth)
$21.07
Edible (10mg)
$9.43
Concentrate (Gram)
$17.29
Top Strain
Apple Fritter
| State | Average Item Price (Jan 2024) | Total Sales (Jan 2024) | Year-over-Year Growth | |-------|-------------------------------|------------------------|-----------------------| | AZ | $20.11 | $103.4M | -9.7% | | CA | $21.43 | $332.4M | Data not shown | | IL | $32.92 | $161.6M | Data not shown | | MI | $12.22 | $242.4M | Data not shown | | NY | $40.06 | $26.8M | Data not shown |
Data Snapshot Feb 10, 2024

Category Performance

Category
Jan, 2024
YoY
$
42
M
-9.3
%
$
24.25
M
-14.8
%
$
16.21
M
1.5
%
$
11.57
M
-4.8
%
$
7.86
M
-15.4
%
$
0.83
M
-15.3
%
$
0.32
M
-31.9
%
$
0.24
M
-58.6
%

Edibles, particularly the Gummies segment, stand out with their performance in the Arizona market. In January 2024, Gummies alone accounted for over $10 million in sales, dominating the Edibles category. The average item price for Gummies has decreased slightly from $13.77 in January 2023 to $11.54 in January 2024, yet they remain a consumer favorite.

The top brands in the Gummies segment for January 2024 include WYLD, OGEEZ, and Baked Bros, with WYLD leading the pack with over $2.3 million in sales. These brands have successfully navigated the market, indicating a strong brand presence and consumer loyalty.

| Segment | Average Item Price (Jan 2024) | Total Sales (Jan 2024) | Total Units (Jan 2024) | |---------|-------------------------------|------------------------|------------------------| | Gummies | $11.54 | $10,023,462 | 868,510 | | Chocolate | $15.28 | $761,829 | 49,874 | | Brownie, Blondie, and Cereal Bars | $11.47 | $237,632 | 20,717 |
Data Snapshot Feb 26, 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

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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.
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Emerging

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