Flower is King: Sales Breakdown – Cannabis News, Lifestyle

Flower is king in the cannabis world. It is the dominant category in any market and requires little to no processing; it is often the cheapest category of cannabis. And flower is versatile. It can be smoked, vaporized, or used to make edibles or oil. From a business point of view, Flower is also vulnerable to price fluctuations. The price of flowers has fallen over time.

From January 2021 to March 2022, flower prices fell 22% in the US and 17% in Canada. And from March 2019 to April 2022, flowers’ market share fell from 78.8% to 42.5% in Canada and from 41% to 40.4% in the US. However, this is part of an industry-wide downtrend. Flower is king compared to pre-rolls and vape pen sales.

Flower is king compared to edibles and vapes

Flower is king in terms of sales and market share. Flower tops the list in overall sales volume across all cannabis markets. Flower sells almost twice as much as the next category.

The market share of flowers has been declining since 2019. In Canada, this started in the first few months of legal sale. The flower marker briefly rose during the COVID pandemic in the US, but has been declining since early 2021. The market share in the US is now lower than before the pandemic.

Per states and provinces

Is flower king in the legal states and provinces?

Ontario has a higher percentage of total flower sales than other Canadian provinces. There is wide distribution in the US, with Maryland and Michigan taking the top spots. Ironically, Colorado and California have the smallest percentage of total sales in the flower category.

A lot has changed in one year. Last year, Nevada held the top spot for the largest flower market share. Their share was 56.3%; this year it is only 46%. And that’s not unique. Every flower market has seen a drop in market share since last year.

What kind of flower is king? Canada vs USA

What kind of flower is king? If we look at Canada and the US, we see some similarities and differences. For similarities, the hybrid flower is the most popular in both countries. Indica is more common in Canada than sativa strains. At the same time, both indica and sativa buds achieve the same sales volume in the US.

A significant portion of sales in the US come from “popcorn” buds. A trend that has not yet caught on in Canada. Ground flower is popular in Canada but doesn’t bring much sales in the US.

Price flower: Canada vs. USA

If flowers are king, it is because of their price. The average price per gram of bud has fallen in both the US and Canada. In Canada, the price fell steadily throughout 2021, while the US saw a slight price increase in September.

The average flower price in the US fell by 22% from January 2021 to March 2022. In Canada, the price of flowers fell by 17% over the same period.

type of buyer

Demographics tell us something about different consumer groups who buy cannabis flower. Men spend proportionally more on flowers than female customers. At the same time, baby boomers tend to spend the most on flowers, followed by millennials.

Generation Z consumers in Canada only spent 1/3 of their potential cannabis income on flower.

Conclusion

Flower is king despite declining sales. Because of its versatility, it will likely remain the dominant category. Cannabis flowers can be grown quickly and require little to no processing. However, as customers branch out and try new products, cannabis flower market share may fall even further.