Data Dive: Cannabis Extract Sales Skyrocketing
If you were lucky enough to secure a producer license in Washington state back in 2014, you may be reaping the benefits of that purchase. According to recent data released by the Washington State Liquor and Cannabis Board, sales of cannabis concentrates have skyrocketed by over $140 million in just two and a half years.
In the first year of cannabis sales, Washington recorded a little more than $3.4 million in sales through 69,642 units sold.
Two years later, the state tallied a staggering $143.2 million in sales through 6.6 million units sold. These types of increases are seen across the board in Washington, as the state topped the $1 billion total sales mark last year.
In 2014, sales of infused edibles topped $2.2 million, with just over 73,000 units sold. Fast forward just two years and sales of edibles in Washington state topped $45.7 million, with more than 3.68 million units sold.
The LCB is still collecting the data for this year, but expect steady increases to continue, as the states cannabis retail sales continue to grow month-over-month.
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