Although concentrates comprised only 3.8% of the overall cannabis market at the end of 2021, this category has been growing steadily, according to a report from Headset. In the first quarter of 2021 there were only 184 unique concentrate products available, but as of Q4 2021 there were 373 SKUs in the markets of Alberta, British Columbia, Ontario, and Saskatchewan.
Customer Preferences
Customer PreferencesThe concentrates category is extremely diverse with many different methods of extraction and even more potential end products. However, the table below illustrates that nearly 80% of concentrate sales in Q4 2021 went to three segments: hash, live resin, and shatter.
The chart below shows the top ten best-selling strains of concentrate products over the previous 90 days. ‘Indica Only’ and ‘Sativa Only’ and ‘Hybrid’ indicate that the product’s strain was not specified beyond those terms.
Pricing
The average equivalized price (price per gram) and average item price of products in the concentrates category dropped significantly through the year, especially when the data is normalized across package sizes—the average price per gram of concentrates dropped by 35% through 2021. In January 2021 the price per gram was $42.98 and it dipped to $27.93 in December. Likewise, the average item price reduced 20% from $45.39 to $36.49.
*All data is for sales in Ontario, Alberta, British Columbia, and Saskatchewan only.