Maryland Cannabis Sales

Apr, 2024
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Cannabis Market Data

Overview

The Maryland cannabis market has experienced a significant surge, with a year-over-year sales growth of 135.4% as of April 2024. This remarkable increase is a testament to the market's rapid expansion and consumer demand. The average item price in Maryland has seen a slight decrease from March 2024 to April 2024, dropping from $30.64 to $29.56. Despite this, the total sales for April 2024 reached approximately $91.8 million, with over 3.1 million units sold. However, month-over-month growth indicates a slight contraction of -4.3% in sales, suggesting a need to monitor the market closely for stabilization or further trends.

The Maryland market's pricing trends are particularly noteworthy. While the average item price remains higher than in many other states, the recent decrease could indicate a shift towards more competitive pricing or changes in consumer preferences. This pricing dynamic, coupled with the impressive growth in sales, positions Maryland as a distinctive market within the broader national landscape.

$91.76M

Apr, 2024

Sales

135.3 %

Year Over Year

Growth

Data Snapshot May 03, 2024

Market Comparison

When comparing Maryland to other markets in the USA, it's clear that MD's growth rates are exceptional. For instance, Maryland's year-over-year sales growth of 135.4% far exceeds that of mature markets like Colorado and Washington, which saw declines of -9.6% and -2.6%, respectively. Additionally, Maryland's average item price of $29.56 is higher than the average in states like Oregon ($13.29) and Michigan ($11.58), which could indicate a premium product mix or less price competition.

The Maryland market's unique position is further highlighted by its pricing, which remains on the higher end. This could be attributed to a variety of factors, including product quality, brand positioning, and market maturity.

For those seeking a deeper understanding of the Maryland cannabis market or other states, Headset Insights offers comprehensive data and analysis tools to explore trends, consumer behavior, and market dynamics.

Maryland Weed Prices

Product
Apr, 2024
YoY
Flower (Gram)
$9.78
Flower (Eighth)
$33.97
Edible (10mg)
$18.85
Concentrate (Gram)
$32.02
Top Strain
Animal Face
| State | Avg. Item Price (April 2024) | Total Sales (April 2024) | YoY Sales Growth | |-------|------------------------------|--------------------------|------------------| | [MD](https://www.headset.io/markets/maryland) | $29.56 | $91.8M | 135.4% | | [CO](https://www.headset.io/markets/colorado) | $15.68 | $103.8M | -9.6% | | [WA](https://www.headset.io/markets/washington) | $12.67 | $101.3M | -2.6% | | [OR](https://www.headset.io/markets/oregon) | $13.29 | $83.3M | 1.2% | | [MI](https://www.headset.io/markets/michigan) | $11.58 | $281.6M | 14.4% |
Data Snapshot May 03, 2024

Category Performance

Category
Apr, 2024
YoY
$
46.11
M
143.3
%
$
21.78
M
157.1
%
$
11.04
M
111.9
%
$
9.65
M
249.6
%
$
2.27
M
-17.2
%
$
0.35
M
12.9
%
$
0.26
M
44.4
%
$
0.23
M
15.0
%

One category that stands out in Maryland is Pre-Rolls, which has shown an exceptional year-over-year unit growth of 241.9%. Within this category, the 'Hybrid - Single Strain' segment is particularly interesting, with a year-over-year sales growth of 331.0% and unit growth of 284.6%. This segment's average item price in April 2024 was $14.34, reflecting a slight decrease from the previous month.

The top brand in the 'Hybrid - Single Strain' segment for October 2023 was Verano, with total sales of $746,767 and an average item price of $25.00. Following closely were District Cannabis and SunMed, with total sales of $535,361 and $533,670 respectively.

| Segment | Avg. Item Price (April 2024) | Total Sales (April 2024) | Total Units (April 2024) | YoY Sales Growth | |---------|------------------------------|--------------------------|--------------------------|------------------| | Hybrid - Single Strain | $14.34 | $6,973,528 | 486,449 | 331.0% | | Indica - Single Strain | $12.96 | $1,203,777 | 92,909 | 303.8% | | Sativa - Single Strain | $14.81 | $747,645 | 50,492 | 231.6% | | Cannagars / Blunts | $19.15 | $44,163 | 2,306 | 360.9% |
Data Snapshot May 04, 2024

Top Cannabis Brands in Maryland

Market Trends

Product Category Market Share In Maryland

Monthly Cannabis Sales

Historical Cannabis Sales In Maryland

Maryland Cannabis Reports

Report
September 18, 2023

A deep dive into the Maryland cannabis market

This report provides a detailed analysis of the Maryland cannabis market, examining sales growth, product categories, pricing, demographics, and more.
Report
September 22, 2021

A high-level overview of the Maryland cannabis market

This report provides an overview of the Maryland medical cannabis market.

Maryland Cannabis News

Blog
July 17, 2023

A look at Maryland’s first weeks of adult-use sales

Maryland is the latest cannabis market to open its doors to recreational consumers, and we're here to help you make sense of the med to rec transition. Check out our recap of this evolving landscape, as we examine its early stages of adult-use sales.
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.
User rating
MD
Emerging

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