MJBizMag November-December 2022 - 72

Flying Off the Shelves
The percentage of cannabis consumers
who use concentrates is on the rise.
Concentrated on THC
Consumers embrace concentrates as falling
flower prices lead to cheaper extracts
C
annabis industry analysts and
retail buyers say concentrates
have made significant advances
in the past 12 to 18 months-especially
in more mature markets and among
frequent cannabis consumers.
This goes for both stand-alone
concentrates and infused products
such as pre-rolls, vape cartridges and
edibles.
According to the Brightfield Group,
a cannabis industry analytics firm in
Chicago, almost 29% of marijuana consumers
say they have used concentrates
in the past six months, up from around
22% two years ago.
" That's really a lot of the direction
that the market is going, " said Bethany
Gomez, Brightfield's managing director.
The increase is even more
significant in mature marijuana
markets. For example, over the past
two years, cannabis consumers using
concentrates increased from about 20%
to 26% in Michigan and from 13% to
20% in Massachusetts.
" More than 64% of consumers are
using cannabis at least daily. ... The
more frequently you use, the higher
your tolerance becomes. That's helping
build the concentrates market, " Gomez
said of the category.
70 November-December 2022 | MJBizMagazine
By Omar Sacirbey
CONCENTRATES ARE
A DRIVING FORCE
Gomez said she sees two drivers of
concentrates' success right now.
One: Consumers are very price sensitive,
particularly given the inflation
seen in the past year.
" We see consumers not willing to give
up on their cannabis usage, not willing
to use any less product. But they're
definitely looking for a stronger bang
for their buck, which is why concentrates
can be a really effective product
for heavy users, " Gomez said.
Another factor behind increased concentrates
use is that the products have

MJBizMag November-December 2022

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