Long gone are the days of limited options in the legal cannabis industry. Fom the types and number of companies to their products and the range of consumers and investors, legal cannabis is taking off in many parts of the world. With hundreds of products to choose from, customers can decide whether they want their cannabis to come in a vape pen, a resin, a cream or oil, a food, a drink, or, of course, the traditional flower form. Below, we'll take a look at some of the most popular cannabis products among consumers in California, Colorado and Oregon, according to a report by BDS Analytics.
The oldest cannabis product remains the most popular, perhaps owing to the fact that joints, bongs and bowls have existed for much longer than newer products like cannabis coffee or vape tools. Sales of these products in the legal cannabis space reached $1.1 billion from January through July of this year. Companies focused on medical marijuana, such as Canopy Growth Corporation (CGC) or Tilray (TLRY), still rely on sales of traditional marijuana for a significant portion of their revenue.
2. Vape Cartridges
When considering vape cartridges, BDS draws a distinction between generic, pot-free vaporizers available online and vapes and related accessories which come with cannabis and are sold in dispensaries. These products reached sales of $476 million during the first half of the year.
3. Pre-Rolled Joints
The third most popular product among cannabis consumers is the pre-rolled joint. Pre-rolled joint sales reached more than $185 million during the time period in question.
While the top three cannabis products are all designed to be inhaled, the next on the list is an edible. It appears that consumers preferring to eat their cannabis products tend to go for gummies and similar candy-like treats. These products generated a notable $135 million in sales during the first six months of 2018. Gummies rely on cannabis oil, the specialty of companies like Cronos Group (CRON) and industry leader GW Pharmaceuticals (GWPH).
Coming in above resin, wax, chocolate, and disposable vapes, among a host of other products, are cannabis droppers. According to the report, these products, which provide a direct means of dosing via the mouth, have recently been spiking in popularity. This may be due to the easy access they provide or to the fact that they don't require inhalation or ingestion of food or drink. In any case, droppers round out the top 5 most popular cannabis products for consumers, with $68 million in sales from January to July.