Ohio Cannabis Sales

Mar, 2024
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Cannabis Market Data

Overview

The cannabis market in Ohio has demonstrated a steady growth trajectory with a notable increase in average item prices. In March 2024, the average item price stood at $37.42, up from the previous year's $42.76, indicating a shift in consumer spending and product availability. Total sales for the same month reached over $40 million, with a year-over-year growth of 4.2% and a month-over-month growth of 3.6%. This suggests a consistent upward trend in both consumer demand and market expansion within the state.

Despite fluctuations in month-over-month sales, the overall pattern reflects resilience and adaptability in the face of market dynamics. The year-over-year sales growth, coupled with a 19% increase in units sold, underscores a robust market that is attracting new consumers and retaining existing ones. The Ohio market is becoming increasingly significant within the broader cannabis industry landscape.

$40.27M

Mar, 2024

Sales

4.1 %

Year Over Year

Growth

Data Snapshot Apr 03, 2024

Market Comparison

When comparing Ohio to other markets in the country, it is evident that Ohio's average item price is among the highest. For instance, the average item price in Ohio is $37.42, while states like Michigan and Oregon have significantly lower prices at $11.92 and $13.8, respectively. In terms of growth rates, Maryland and Michigan stand out with year-over-year sales growth of 140.2% and 14.0%, respectively, which are substantially higher than Ohio's 4.2%.

Market sizing also varies, with Ohio's total sales reaching over $40 million, while larger markets like California and Michigan report sales of $364.56 million and $284.56 million, respectively. Ohio's market, while smaller in comparison, is showing signs of healthy growth and consumer engagement.

Ohio Weed Prices

Product
Mar, 2024
YoY
Flower (Gram)
$15.22
Flower (Eighth)
$27.13
Edible (10mg)
$19.68
Concentrate (Gram)
$30.69
Top Strain
Ice Cream Cake
| State | Avg. Item Price (Mar 2024) | Total Sales (Mar 2024) | YoY Sales Growth | |-------|---------------------------|------------------------|------------------| | OH | $37.42 | $40.27M | 4.2% | | CA | $20.76 | $364.56M | -5.3% | | MI | $11.92 | $284.56M | 14.0% |
Data Snapshot Apr 03, 2024

Category Performance

Category
Mar, 2024
YoY
$
22.91
M
12.4
%
$
8.56
M
-11.4
%
$
5.37
M
1.7
%
$
2.15
M
13.8
%
$
0.31
M
-18.4
%
$
0.31
M
-26.2
%
$
0.23
M
-8.0
%

One category that stands out in Ohio's cannabis market is Flower, which has shown a different trend compared to the overall market. In March 2024, Flower sales amounted to approximately $22.91 million, with an average item price of $51.31. The segment within Flower that is particularly interesting is Hybrid, which experienced a 15.7% month-over-month sales growth and a 20.5% year-over-year growth. This segment's robust performance indicates a strong consumer preference and market potential for hybrid strains.

The top brands in the Hybrid Flower segment for October 2023 include Klutch Cannabis, Seed & Strain Cannabis Co., and Buckeye Relief, among others. These brands have successfully captured significant market share, as evidenced by their sales figures and SKU counts.

| Segment | Avg. Item Price (Mar 2024) | Total Sales (Mar 2024) | MoM Sales Growth | YoY Sales Growth | |---------|---------------------------|------------------------|------------------|------------------| | Hybrid | $48.45 | $11,925,977 | 15.7% | 20.5% | | Indica | $57.11 | $3,104,693 | 6.4% | 33.0% | | Sativa | $48.71 | $606,005 | -4.3% | -16.8% |
Data Snapshot Apr 20, 2024

Top Cannabis Brands in Ohio

Market Trends

Product Category Market Share In Ohio

Monthly Cannabis Sales

Historical Cannabis Sales In Ohio

Ohio Cannabis Reports

Report
November 27, 2023

Ohio Cannabis Market Overview

Ohio presents a significant opportunity in the cannabis industry. It is currently one of the largest medical markets in the US, with total sales exceeding $400 million year to date. The recent legalization of recreational cannabis through a successful ballot measure is expected to propel the market to unprecedented levels in the coming year. As the seventh largest state in a region that is still relatively new to cannabis, Ohio has the potential to become a billion-dollar adult use market.
User rating
OH
Emerging

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