Colorado Cannabis Market

Posted on 14 June, 2023 by Micheal Alexander

Colorado cannabis market has been legal for medical use since 2000 and for recreational use since late 2012. Two new bills, House Bill 1230 and House Bill 1234 created two new business licenses for cannabis tasting rooms and cannabis deliveries starting with medical products in 2020 and recreational to follow in 2021. Cannabis Delivery Business

Colorado’s retail sales in adult-use and medical dispensaries combined grew from $675 million in 2014, to about $2.19 billion in 2020 and $2,229 million in 2021, including $404 million medical and $1,825 million recreational cannabis sales.

Cannabis consumers spent $1,769 million in 2022, including $231 million medical and $1,538 million recreational cannabis sales, according to data from the Department of Revenue’s Marijuana Enforcement Division. Cannabis sales averaged $2.30 million ($2.79 million in 2021) per retail location in Colorado’s adult-use market and $0.59 million ($0.96 million in 2021) per location in the medical channel. Commercial cannabis extraction

Demand for Cannabis Concentrates in Colorado

In 2014 when adult-use just launched in Colorado, over 70% of sales came from dried flower; in 2016, that was down to 55%. In contrast, concentrate sales were $20 million in 2014, or 13% of sales. By the end of 2016 they had jumped to $85 million and 25% of sales. Edibles (including candy, beverages, tinctures, and all food) more than tripled during the same period, from $17 million to $53 million, moving from 11% to 14% of sales. Vape pens and vape products, candy, and other portable and convenient methods of consumption are especially popular with Colorado consumers.