Marijuana has been legal in Colorado since 2014, and some 21,000 people are employed by the cannabis industry. The state’s marijuana market is worth $1 billion annually and continues to expand.
Despite all of the available options, flower remains the most popular cannabis flower in Colorado, according to a New Frontier analysis.
Flower still reigns supreme among the huge array of products accessible to customers, according to New Frontier Statistics’s analysis of Colorado sales data.
On November 2, Fresh Frontier Statistics provided a new study of Colorado’s cannabis sales data. The business discovered that cannabis flower sales surged significantly between 2014 and 2020, based on data from the Colorado Marijuana Enforcement Division.
Within that seven-year timeframe, the state sold 148,000 pounds of flower to customers in 2014, gradually increasing to 584,000 pounds by 2020, with a compound annual growth rate of 26 percent.
According to New Frontier Data, each average-sized joint contains one-third of a gram of cannabis, and Colorado sold 201 million of them in 2014. The state expects to sell 795 million joints by 2020. Colorado has sold over 3.4 billion smokes in the seven years since it became the first state to legalize recreational marijuana.
In his analysis, New Frontier Data Chief Knowledge Officer and author John Kagia wrote, “That flower sales continue to increase at such a rapid pace seven years after the market launched suggests that smoking flower will remain a durable preference for the foreseeable future.” “However, the flower’s dominance hides the seismic shifts in consumer behavior, emphasizing the need for manufacturers and brands to grasp the tides of shifting customer tastes.”
Although flower sales in Colorado are increasing, the individual split of customer preferences is changing. According to New Frontier Data’s Cannabis Consumer Evolution study for 2021, 57% of customers utilize both flower and non-flower products, with just 19% admitting they don’t prefer flower over alternative choices.
Seventy percent of younger consumers (aged 18-34) were two times more likely than senior consumers (aged 55 and above), who were only 35 percent likely to eat both flower and non-flower items. However, when it came to age groups that solely eat flower, the older group was twice as likely as the younger group, with 40% and 15%, respectively.
Those who used cannabis products less often exclusively used flower, while those who used cannabis products regularly used a range of items. Furthermore, in terms of gender demographics, women were less likely than men to select flower. Medical cannabis users also said that they do not use flower to cure their diseases because of the health risks associated with smoking.
The popularity of flowers is also influenced by black market sales. According to New Frontier Data, 33% of customers who reside in illicit markets are more likely to smoke solely flower, while only 22% of those who live in regulated markets would do so. Consumers who buy cannabis from physical retail stores or delivery services are more likely to buy non-cannabis flower products, compared to only 13% who buy from “informal sources.”
Although cannabis flower is now the most popular form of consumption, New Frontier Data believes that it will gradually lose popularity in favor of an increasing array of non-flower products in the next years. “The fragmentation of the product landscape is rapidly transforming the flower-dominant part of the market; present trends indicate that customers who use flower solely will become more dominated by older, male, and less-frequent users.”