As we close in on the fourth quarter of 2022, it’s clear that there has been a sea-change
in the trajectory of the most mature cannabis markets. Most mature cannabis markets
saw strong sales in 2020 and the first half of 2021, followed by slowing growth in the
second half of 2021. A combination of factors including general economic inflation,
regulatory burdens regarding banking and inflated tax rates, and depleted margins
due to significant declines at wholesale have continued to make profitability an uphill
battle for many businesses in the most mature cannabis markets.
These recent trends have been shown most clearly in sales totals in mature cannabis
markets, where sales have flatlined and even shown declines in the first half of 2022.
While the hockey-stick sales growth that we have seen from cannabis markets in past
years seems to be coming to an end, mature cannabis markets still have huge potential
for brands and retailers who take a thoughtful approach to their given market. We’ve
taken the time to prepare the top data insights to show where some of the most mature
markets stand today, calling out the best-selling brands, leading product attributes,
consumer insights, and topline sales forecast for the Arizona, California, and Colorado
legal cannabis markets.