TIMES ARE A’CHANGIN?
America’s most popular cannabis category is losing its dominance
In its latest report, Headset conducted a deep dive on America’s most popular cannabis category: flower, reports MJBizDaily. And while it’s still the most popular category, consumer appetites are shifting.
- Flower is the largest cannabis product category, but sales increased by just 11.5% compared to overall cannabis sales, which grew by 18% in California, Colorado, Michigan, Nevada, Oregon and Washington
- Flower prices have dropped by about $1/gram
- Newer markets in the northeast are focused on THC potency
- Retailers in more mature markets are seeing consumer interests shift away from potency and more toward terpenes and minor cannabinoids—and they’re willing to pay more for quality
- Pre-rolls sales grew by 38.9%
While flower buyers are becoming more sophisticated, high-THC flower is still a winner, said Nick Sosiak, CFO of Quebec-based Cannara Biotech. “If you have the highest THC, you’ll beat all your competitors.”
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Tilray consolidates its medical brands
After acquiring Aphria last May, Tilray announced it is consolidating its medical brands under one umbrella called Tilray Medical, reports Green Market Report.
- Tilray launched a value, lower potency brand called Symbios shortly after acquiring Aphria last year
- Aphria flower was guaranteed to test at 18% THC or higher
- Aphria’s oils were full-spectrum, Symbios’s are distillate-based
- Through Tilray Medical, medical cannabis consumers can access all four brands: Tilray, Aphria, Broken Coast and Symbios
Tilray has focused largely on global medical markets in recent months, expanding its product offerings in Australia in January. The company has 20 brands in more than 20 countries, according to a press release.
DanCann raises another £1 million to execute its ambitious strategy
Denmark-based medical cannabis company DanCann Pharma raised another £1 million, which will help the company bring its first products to market in 2022, writes BusinessCann.
The company’s plans include:
- Integrating with CannGros, which they acquired for more than £15 million last fall
- Bringing nine cultivars to market, carefully selected among 95 options
- EU GMP certification of its cultivation facility
- Entering the emerging German market
“The proceeds allow us to implement our plans with peace of mind in 2022 while keeping focus on the milestones that await us,” said CEO Jeppe Krog Rasmussen.