Washington Cannabis Sales

May, 2024
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Cannabis Market Data

Overview

The cannabis market in Washington has shown a nuanced trajectory over the past two years. As of May 2024, the average item price in the state has slightly decreased from $12.81 to $12.72, reflecting a modest deflationary trend. Total sales for May 2024 amounted to approximately $101.84 million, with a 1.3% month-over-month growth and a slight 1.8% year-over-year unit growth. This suggests a stable demand but also indicates a market that is not expanding rapidly. The overall sales figures have seen minor fluctuations, with a notable peak in July 2022 at approximately $109.63 million and a general trend of stabilization thereafter.

$101.85M

May, 2024

Sales

-1.2 %

Year Over Year

Growth

Data Snapshot Jun 03, 2024

Market Comparison

When comparing Washington's market to other states, it's evident that Washington has one of the lowest average item prices at $12.72, which is significantly lower than states like Illinois and Ohio where the average prices are $31.64 and $37.06 respectively. This could be indicative of a more competitive or saturated market in Washington. The total sales in Washington are also on the lower end compared to larger markets like California, which reported sales of approximately $356.47 million in May 2024. However, the growth rates in Washington are more stable compared to states like Maryland, which saw a dramatic 126.2% year-over-year sales growth, suggesting a more mature market in Washington that may not be experiencing the volatility seen in newer or rapidly expanding markets.

Washington Weed Prices

Product
May, 2024
YoY
Flower (Gram)
$7.00
Flower (Eighth)
$17.12
Edible (10mg)
$10.70
Concentrate (Gram)
$8.67
Top Strain
Wedding Cake
| **State** | **Avg. Item Price May 2024** | **Total Sales May 2024 (Millions)** | **YoY Sales Growth** | |-----------|------------------------------|------------------------------------|----------------------| | WA | $12.72 | $101.84 | -1.2% | | CA | $20.29 | $356.47 | -5.3% | | IL | $31.64 | $169.75 | 5.9% | | MD | $29.65 | $93.47 | 126.2% |
Data Snapshot Jun 03, 2024

Category Performance

Category
May, 2024
YoY
$
34.96
M
-1.0
%
$
26.99
M
2.5
%
$
16.4
M
-2.9
%
$
10.24
M
4.0
%
$
7.79
M
-16.2
%
$
3.67
M
7.0
%
$
0.93
M
5.7
%
$
0.36
M
-18.2
%

Focusing on the Edibles category, it presents an interesting contrast to the broader market trends. In May 2024, Edibles achieved a total sales of approximately $10.24 million, with a significant 8.3% month-over-month sales growth and a 3.9% year-over-year sales growth. This growth is higher than the overall market's performance, indicating a growing consumer preference for this category. The average item price for Edibles has seen a slight increase from $13.14 to $13.41 from April to May 2024, suggesting that consumers are willing to pay more for these products. The unit growth also outpaces the market with an 11.5% year-over-year increase.

| **Category** | **Avg. Item Price May 2024** | **Total Sales May 2024 (Millions)** | **YoY Sales Growth** | |--------------|------------------------------|------------------------------------|----------------------| | Edibles | $13.41 | $10.24 | 3.9% |
Data Snapshot Jun 03, 2024

Top Cannabis Brands in Washington

Market Trends

Product Category Market Share In Washington

Monthly Cannabis Sales

Historical Cannabis Sales In Washington

Washington Cannabis Reports

Report
September 12, 2022

Understanding the recent sales declines in legacy cannabis markets

When we dig into the underlying causes of the overall cannabis sales declines in the US, we find some notable patterns contributing to the market retraction.
Report
January 17, 2020

The 2016 Washington Cannabis Industry: No Signs of Slowing Down

Welcome to Headset’s year-end report on the 2016 cannabis industry.
Report
January 17, 2020

Washington’s Growing CBD Market: The Secret Is Out

This report is your guide to the steadily growing Washington State market for products high in Cannabidiol, more commonly known as CBD.

Washington 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
September 19, 2022

5 cannabis brands outperforming current market trends in CO & WA

These cannabis brands are succeeding in Washington and Colorado, two of the most competitive and mature cannabis markets in the US.
Blog
July 8, 2021

A dab of data: A look at cannabis concentrates

To celebrate 7/10, we put together a brief overview of some popular types of dabs and some price points of the top brands.
User rating
WA
Legacy

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