If sales trends continue in their current direction, then cannabis concentrates are destined to become the dominant figure in the market. In fact, over the past year, concentrate sales rose more than 50%. Conversely, flower sales declined in most markets, forcing cannabis businesses to sell flower cheaper on both wholesale and retail levels. While it was certainly expected that the market would introduce flower alternatives, this shift came as somewhat of a surprise.
The concentrates marketplace has been an ongoing evolution since vaping devices became smaller and more affordable. Today, vape cartridges are one of the cannabis market’s most popular items. In states like Washington, flower sales fell from 87% to 61% in just two years of sales. Meanwhile, edibles are on the rise. In California, the cannabis delivery service Eaze reported a 400% increase in oil cartridge purchases between 2015 and 2016 — totaling 25% of the company’s total sales.
And that’s just the beginning. More products enter the market each year while flower cultivators and sellers wonder what’s next. Could a wide variety be the cannabis market’s most synonymous product’s demise?
The answer is no. A broad range of goods isn’t enough to topple flower sales entirely. Products have existed for nearly as long as flower has been sold. So, why are concentrates rocketing up the sales charts while purchasing flower appears almost as antiquated as Jeff Sessions’ views on marijuana? That answer is a bit more intricate.