According to this rolling report from MJBiz Daily, who have been tracking sales figures over the last two years, the cannabis market has changed dramatically. Consumers have more options than ever, and they’re turning to concentrates such as solventless rosin and away from traditional products such as cannabis flower.
Sales of Solventless Rosin and Concentrates
Over the last two years alone, rosin has seen more than a 200% increase in sales. Bubble hash purchases have increased more than 100%, and even boutique live rosin has seen almost a 40% rise. BHO shatters on the overhand have seen just 13% growth, as well as CO2 vapes seeing little improvement, and flower sales have effectively flatlined. Which all highlights the changing face of cannabis consumption.
Edibles and Beverages
While concentrates are booming, edibles are going through the roof. One of the largest areas of growth in the cannabis industry is with edibles, capsules, and beverages. Much of that growth can be attributed to an explosion of new edible cannabis products hitting the shelves in recent years, but this also suggests a public shift away from less healthy options such as smoking cannabis and solvent based extraction methods.
Cannabis Flower Sales
Long the stalwart of cannabis culture, smoking joints may finally be seeing its day. Having experienced massive continuous growth for over a decade, flower and pre-roll sales have stalled over the last few years. Of course smoking joints remains popular, but the sector does not appear to be growing any further and suggests we have hit a saturation point in this market.
Classics in Decline
Interestingly, there are some areas of the cannabis industry that appear to be shrinking. Cookies, chocolates, and brownies for example have all seen a sharp decline in recent years, perhaps due to a more health conscious public moving away from high calorie snack foods? It’s anyone's guess.
What’s clear is that cannabis consumers are ditching more traditional methods of consumption. The joint, the magic brownie, and even relatively newer CO2 vape pens are all falling out of favor with the general public. What’s also clear however, is that they are embracing a new world of solventless rosin and edible cannabis products, especially beverages. So, if you’re into solventless rosin then rejoice, because concentrates undoubtedly have a very bright future.