Deep Dive: Consumers embrace concentrates as falling flower prices lead to cheaper extracts

Concentrates and infused products have seen an increase in popularity over the last 2 years. This trend is even more noticeable in mature markets like California and with frequent cannabis consumers.

The more cannabis is consumed, the higher your tolerance will be. Currently more than 64% of cannabis users consume daily. As the percentage of daily consumers go up, the market for these products will follow.

Here are three key takeaways

Why the Increase In Popularity? 

 With inflation over the last year, price sensitive consumers are looking for more bang for the buck. Daily users are switching to concentrates due to the effectiveness at small amounts and the availability of options now available. 

Concentrates, extracts, and edibles don’t come in mylar bags or generic medicine bottles anymore. Refined packaging has given each brand their own distinct personality to attract customers.  

Is Price a Factor?

 Wholesale market flower in some states has dropped, making it cheaper for concentrate products to be produced. This along with better production helps drive the price down in competitive markets. 

It wasn’t long ago when if you wanted a dab, you needed an expensive rig. There are tools now available at affordable prices which makes jumping into concentrates easier. These tools make it more inviting and accessible to someone who normally wouldn't purchase.

Which Concentrate Comes Out on Top?

 The amount of concentrates available on the market is always expanding, but the one that always stays on top is live resin. Live resin has been consistently the most popular among concentrate users. Competition within the industry is bringing the price down on this once expensive product.

Consistency is another reason why resin is so popular. Edwin Maguire, general manager at Michigan-based Premiere Provision said ““Cured resin, live resin and normal wax seem to be what we sell the most. Everybody likes that little bit of thicker consistency.”

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 Concentrates won’t be taking over shelves this year, but the direction the market is going does point to that in the future. According to cannabis data firm Brightfield Group’s, saw almost a 6% increase in concentrate use with cannabis consumers over the last 2 years.

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Consumers embrace concentrates as falling flower prices lead to cheaper extracts [MJBizDaily]