A $25.5M Growth Possibility For New Jersey’s Pre-Roll Cannabis Market
The New Jersey cannabis market has experienced remarkable growth, particularly in the pre-roll segment, which saw an 8% increase in sales, reaching $25.5 million in the last quarter of 2023. This growth is part of a broader 23% rise in overall cannabis revenue for the state during the same period. Despite challenges such as limited brand diversity, the pre-roll market presents considerable opportunities for expansion as market conditions continue to evolve.
Market Leaders and Emerging Trends
Leading the pre-roll market in New Jersey is Verano Holdings Corp (OTC:VRNOF), which captures a 21% share with its extensive line of sleek and modern pre-rolls. Miss Grass follows closely with its user-friendly 0.4 gram, 5-pack minis, accounting for nearly 13% of the market share. Despite holding a smaller share, Edie Parker has seen a notable 166% increase in revenue, reflecting a growing consumer interest in lifestyle-oriented cannabis products.
Future Projections and Regulatory Challenges
The market report by RollPros projects that New …