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Amid industry consolidation, identifying emerging brands in key markets is crucial for acquisitions and collaborations. While wholesale prices have risen, retailer margins have tightened, reducing profitability. Cannabis concentrates offer a way to premiumize offerings and improve margins in this context. This raises the question: which strong-growth concentrate brands are leading the market with premium offers?
In oversaturated markets, consumers seek standout products with refined tastes that command higher prices due to their potency, sophisticated flavors and premium packaging. According to BDSA data, cannabis concentrates have gained popularity, with sales rising significantly, making them a lucrative option for companies looking to enhance profit margins.
Smaller local brands with loyal customer bases in emerging markets like the east coast and Midwest, are well-positioned for strong sales and are attractive acquisition targets during industry consolidation.
Michigan has emerged as a significant market for several brands, including Goodlyfe Farms, Galactic and Society C, each exceeding $5 million in sales. These brands demonstrate strong growth in concentrates alongside other product categories.
Massachusetts is another key state, hosting high-performing brands like LivWell and Happy Valley, both showing strong sales trends. Additionally, Sauce Essentials has seen over $1 million in sales, operating in Massachusetts among other states.
Several brands, including Distro 10, Mischief, The Limit, and Traphouse Cannabis Co., are gaining traction with sales surpassing $1 million. These brands are predominantly concentrated in Michigan, highlighting the state's robust market growth.
These issues will be a hot topic at the upcoming Benzinga Cannabis Capital Conference in Chicago this Oct. 8-9. Join us to get more insight into what the wave of weed legalization means for the future of investing in the industry. Hear directly from top executives, investors, advocates, and policymakers. Get your tickets now before prices go up by following this link.
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