Data from several cannabis market research and analysis firms continues to confirm the trend among consumers away from cannabis flower and towards vape cartridges, extracts and edibles.
According to BDS Analytics and New Frontier Data, wholesale prices for flower in all markets continue to fall, some steeply.
In the last 15 months in Oregon, the price of flower fell more than 41%. In Colorado, cannabis flower has gone from 67% of consumer purchases to 44% since legalization took effect, with the slack being picked up by a doubling in sales of concentrates. In California, it took just four months from the market’s launch for flower sales to drop 3%.
The price of flower has become so competitive that many large growers are bringing in traditional agricultural experts to help manage their electricity and fertilizer costs so they can eke profits from the smallest of margins. This trend is expected to continue as the industry matures and companies continue to innovate to meet consumer demands.
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