Colorado Market Surpasses $200 Million in Monthly Sales and Nearly $1 Billion for 1H 2020
BOULDER, Colo., Aug. 6, 2020 /PRNewswire/ — The month of June was another milestone for Colorado’s legal cannabis market, with monthly sales surpassing $200 million for the first time. Sales in Colorado grew 5% consecutively from May 2020 and over 30% year-over-year compared to June 2019. According to BDSA‘s most recent wave of Consumer Insights research, 72% of Colorado residents (adults, 21+) are now either consuming or open to consuming cannabis products, driving product innovation to meet consumer expectations for accurate dosing, consistent experiences, and specific wellness benefits.
In the first half of 2020, Colorado’s legal cannabis sales reached $980 million, increasing 19% from the same period a year ago. During the same time period, flower sales increased by a remarkable 36% in the category over the same period a year ago as consumers flock back to this traditional form of consumption.
In June, flower sales accounted for over 48% of total monthly sales. Pre-rolled joints generated $11.2 million in sales for June 2020 and were also up a dramatic 26% from June 2019. Other major product categories also experienced strong growth. The $58.2 million in concentrate sales during June 2020 represented a 13% increase from the same period in 2019 and sales of all ingestible products generated $29.8 million, a 22% increase from June 2019.
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Headquartered in Boulder, Colo., BDSA (formerly BDS Analytics) helps businesses improve revenues, reduce innovation risk and prioritize market expansion. The company provides a holistic understanding of the cannabinoid market by generating comprehensive, accurate and actionable insights across point-of-sale data, consumer research and global cannabis industry forecast models, available through the award-winning GreenEdge® data platform. To learn more about how you can utilize BDSA’s market research and insights, please visit www.bdsa.com.