Top U.S. Markets Driving Pre-Roll Sales
As the demand soars, some U.S. markets are outperforming others, driving sales and setting new trends. Custom Cones USA’s recent report uncovered which markets are leading the charge in pre-roll sales revenue and shaping the future of cannabis retail. Let’s dive in.
Top 5 Markets in Total Sales Over the Last 12 Months
California: The Gold Standard
California continues to dominate the pre-roll market, with an impressive $749.3 million in sales over the past year. Despite a slight 4% decline in April 2024 compared to the previous year, California’s mature cannabis market keeps it in pole position. In April 2024 alone, pre-roll sales hit $62.1 million, reinforcing the state’s leading position.
Michigan: A Rising Star
Michigan has rapidly ascended the ranks, securing its place as a significant player with $555.5 million in pre-roll sales over the last year. April 2024 saw a remarkable 44.5% increase in monthly sales, reaching $52.2 million. Notably, Michigan boasts the lowest average item price among the top five markets at $6.24, half the price of California’s average pre-roll.
Massachusetts, Arizona & Illinois: Consistent Performers
Massachusetts ranks third, with $297.7 million in pre-roll sales over the past year. April sales grew from $23.1 million in 2023 to $25.5 million in 2024, reflecting a steady upward trend. Arizona and Illinois round out the top five, with $204.4 million and $201.4 million in sales, respectively. Illinois saw a 21% increase in April sales year-over-year, while Arizona maintained steady growth despite a slight 2% decline in April 2024.
New Markets on the Rise
Maryland: A Phenomenal Increase
Since fully legalizing cannabis in May 2023, Maryland has seen a 231% increase in April pre-roll sales year-over-year, jumping from $2.9 million to $9.5 million. This rapid growth highlights the impact of legalization and positions Maryland as a promising new market.
Missouri: Substantial Growth
Missouri’s pre-roll sales revenue increased by 36% in April 2024 compared to the previous year, despite a slow rollout of legal adult-use cannabis. April sales rose from $9.3 million to $12.7 million, indicating strong market potential.
Florida: Potential for Expansion
Although not fully legal for recreational use, Florida experienced a 24% increase in April pre-roll sales, growing from $8.6 million to $10.6 million. With the possibility of recreational legalization, Florida could become a key market to watch.
The Rapid Evolution of Pre-Roll Markets
The U.S. pre-roll market is evolving quickly, with established markets like California maintaining their lead and emerging markets like Maryland showing impressive growth. The competitive landscape varies significantly from state to state, so it’s important to keep a close eye on pre-roll trends for opportunities as cannabis markets continue to mature.
