A Major Cannabis Growth Opportunity May Already Be On The Shelves

Every new cannabis market follows a familiar pattern. Consumers begin with products they already recognize. Flower dominates while vape cartridges and gummies steadily gain market share. Retailers focus on building inventory, attracting first-time shoppers, and converting consumers from the illicit market.

Only later do operators begin asking a different question: Where does the next wave of growth come from?

Concentrates Lag Behind in New Markets

According to a new report from cannabis education company Higher Function and market intelligence platform Lit Alerts, one answer may already be sitting inside dispensary display cases.

Cannabis concentrates remain one of the industry’s smallest product categories in many emerging markets, yet they may also represent one of its largest untapped business opportunities. The report found concentrates account for just 3.3% of legal cannabis sales in New York and 3.7% in New Jersey. In more mature markets including Washington, Colorado, Oregon and Arizona, the category exceeds 10% of sales. As newer markets mature, concentrates could grow from tens of millions of dollars in annual sales into the hundreds of millions.

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