The pre-rolled joints niche of the American cannabis market saw the largest increase in revenue among all categories during the 2023-2024 fiscal year. Flower and vape pens are still dominant in the industry, but they generated relatively the same amount throughout that period.
This marijuana cigarette segment’s recent success was detailed in a report crafted by Custom Cones USA and Headset this week. For their white paper analysis, they pooled retail data from 12 states. Infused pre-rolls in particular are the number one driving force of the niche’s growth.
During the last fiscal year, the pre-roll sector saw an 11.9 per cent increase in revenue compared to the previous fiscal period between 2022-2023. This growth was higher than any other category. Beverages came in second with a 10.97 per cent increase and vape pens took spot number three with a 3.4 per cent rise in revenue. Meanwhile, pre-roll prices in the U.S. have declined by 16.7 per cent on average since the beginning of last year.
“Infused pre rolls have become the dominant segment and go-to choice for consumers, the multi-pack is an unstoppable consumer force,” Custom Cones USA said in the report, “and with new markets opening to recreational cannabis every year, the pre roll market shows no signs of slowing down soon.”
More than US$4.4 billion was generated from pre-roll sales nationwide between January, 2023 and June, 2024. Infused doobies, which currently account for about 44.5 per cent of the pre-roll market share, raked in US$1.75 billion in sales alone during that period. Monthly joint sale sums steadily rose from US$181.2 million in January last year to US$257 million this June.
Graph: Custom Cones USA
Read more: ‘Summer Sesh’ cannabis bonanza coming to Richmond, BC in September
Read more: SNDL makes successful bid for Indiva and its Ontario edibles facility
Extract products gain popularity up north too
New data from the British Columbia Liquor Distribution Branch (BCLDB) has shown that infused-pre rolls and other extract products have been rapidly gaining popularity in Canada.
About 36.3 per cent more vapes and infused pre-rolls were sold during the fiscal period ending in June than the 2022-2023 fiscal year. The LDB sold 45.5 kilograms of extracts and concentrates to BC residents during that time frame.
Infused-pre rolls first became available in the Canadian market at the end of 2022. Multi-packs with an assortment of flavours have become immensely popular in the country and south of the border.
rowan@mugglehead.com
