BDSA‘s October 2024 knowledge highlights Maryland because the fastest-growing state for hashish gross sales, with a year-to-date (YTD) improve of 57.8%, totaling $942.2 million.
Maryland’s spectacular efficiency inside BDSA’s tracked markets cements its place as a key rising state within the hashish business.
Ohio adopted with a 30.9% development, reaching $522.6 million, whereas New Jersey achieved a 24.6% improve, amounting to $805.7 million in YTD gross sales.
Inexperienced Thumb Industries GTBIF, Curaleaf Holdings CURLF, Trulieve Hashish Corp. TCNNF, Cresco Labs CRLBF, and Verano Holdings VRNOF are publicly traded multi-state operators with lively operations in each Ohio and Maryland, supporting the hashish business’s development in these states.
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Struggling Markets
States with established hashish markets are grappling with important downturns. Arizona noticed a 12.9% lower in YTD gross sales, producing $989.8 million, whereas Colorado, one other mature market, reported a 9.5% drop, totaling $1.18 billion.
Even California, the chief in complete gross sales with $4.16 billion YTD, skilled a 3.6% decline, underscoring challenges confronted by long-established markets.
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Month-to-month Shifts
Whereas year-to-date developments present long-term insights, month-to-month knowledge reveals shorter-term momentum shifts. According to BDSA, Missouri leads latest development with a 4.9% month-over-month (MoM) improve, totaling $123.3 million.
Arizona, regardless of its YTD struggles, achieved a 4.4% MoM rise to $93.1 million. Conversely, Michigan recorded the steepest month-to-month decline, dropping 7.7% to $246.3 million, adopted by New York with a 7.3% lower, ending at $11.1 million.
Learn Subsequent: Pre-Rolls, The Avocado Toast Of Hashish: Why Millennials Are Spending +$100M A Month
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