As the industry consolidates, identifying emerging brands in key markets is crucial for acquisitions and partnerships. Wholesale prices are rising while retailer margins are shrinking, reducing profitability. Cannabis concentrates offer a way to premiumize products and improve margins in this landscape. This begs the question: which top-growing concentrate brands are leading the market with premium products?
The appeal of concentrates
In a saturated market, consumers are seeking sophisticated, standout products that command higher prices due to their potency, refined flavor and premium packaging. According to BDSA data, cannabis concentrates are growing in popularity and have seen significant sales growth, making them an attractive option for companies looking to improve their profit margins.
Smaller, local brands with loyal customer bases in emerging markets such as the East Coast and Midwest are well positioned for strong sales and make attractive acquisition targets during times of industry consolidation.
Regional highlights for major markets
Michigan has emerged as a key market for several brands, including: Good Life Farm, Galaxy and Society Cwith sales exceeding $5 million each. These brands have also shown strong growth in concentrates along with other product categories.
Massachusetts is another important state with high-performing brands, including: Rivewell and Happy ValleyBoth are showing favorable sales trends. Sauce essentials The company operates in Massachusetts and other states and has sales of over $1 million.
Top 4 Market Insights Snapshot
- According to the headset data, ozone Illinois has had impressive performances across multiple cannabis categories, consistently ranking second in the concentrates category from April to June 2024, moving up from third place in March.
- rhythm States saw fluctuations in various categories: Illinois held fourth place in the concentrates category from March to May 2024, but dropped out of the top 30 by June.
- Superior chemical seedbed This points to a steady performance of over $2 million in sales by June 2024. In Massachusetts, it rose to the top spot in the concentrates category in June, while the flower and pre-roll categories remained steady in the top four and top two, respectively.
- Good Life Farm The company performed well in Michigan, climbing from sixth place in March to third in the pre-roll category by June 2024. However, its entry into the concentrates category at 32nd place in May and its rise to 22nd place by June indicates potential for growth but also highlights the challenges in this market.
Related article: U.S. cannabis consumers now favor high-potency premium products, rosin and infused pre-rolls: Who’s buying what?
Emerging players
Some brands, Distro 10, mischief, limitand Trap House Cannabis Companyhas surpassed $1 million in sales and is gaining momentum. These brands are primarily located in Michigan, highlighting the state’s robust market growth.
Top 15 Cannabis Concentrate Brands by Sales and Location
- ozone – Illinois, Massachusetts, Maryland, Michigan, Ohio
- rhythm – Illinois, Massachusetts, Maryland, Nevada, New York, Ohio
- Superior chemical seedbed – Colorado, Massachusetts
- Essence (OTC:VRNOF) – IL, MA, MD, NV, OH
- Good Life Farm – Michigan
- Galactic (formerly Galactic Mezz) – Massachusetts, Michigan, Missouri
- Rivewell – Maryland, Michigan, New York
- Society C – Michigan
- Distro 10 – Michigan
- Happy Valley – Massachusetts
- Sauce essentials – Arizona, California, Michigan, Nevada, Ohio, Oregon
- Muha Meds – California, Michigan
- mischief – Michigan
- limit – Michigan
- Trap House Cannabis Company – Michigan
Read next: Michigan surpasses California in legal marijuana sales: Why is the Golden State’s cannabis industry losing its luster?
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Photo: AI-generated imagery.
