Colorado’s Cannabis Sophisticates Choose Concentrates
News from ColoradoMy420Network.com
Even though California still claims the number one spot when it comes to cannabis industry sales totals, Colorado is in second place and continues to grow fast. In addition, their statistics have all been in the positive column, with no real “issues” cropping up since the introduction of the recreational market, which is something that definitely can’t be said about other states.
Worldwide pot sales have more than tripled, and projections by Wall Street still have sales reaching at least $100 billion (most likely more) by 2030. But make no mistake about it; the growth is all due to the United States. In fact, these same experts on Wall Street forecast that America will account for at least one-third (and possibly one-half) of all global sales by 2030, making this country the true core of the cannabis movement.
In Colorado, the latest figures show that total marijuana sales, both combined and recreational, reached nearly $10 billion since legal transactions began in 2014. Posting a record in combined sales for 2020, alone, at $2.19 billion, the industry increased 25.35% since 2019. The program has generated $1.63 billion in tax and fee revenue for Colorado as the state continues to set trends for the entire industry.
The latest news in regard to trendsetting is the fact that the state issued its first adult-use cannabis delivery permit this year. This will allow the industry to grow even more successful because home delivery will help those during the current pandemic by allowing them to stay home, stay safe, and still get product delivered.
Another major reason why Colorado has profited so well from the industry, experts state, is because of its “sophisticated consumption.” Their marketplace offers a true menu of products to choose from in order to satisfy everyone’s needs, and they are constantly adding to the market so that nothing becomes lackluster or dull. What began as just ‘purchasing weed’ has branched into many other avenues, and the concentrates category is looked at as being the next level that experienced cannabis connoisseurs are trying out.
For those who may not know, concentrates are often very potent, with THC content being as much as 95% compared with the ‘norm’ of 20%-35% for the flower/bug. They also require a type of smoking apparatus in order to consume. This is usually a pipe designed for vaporizing cannabis concentrates and is referred to as an oil or vapor rig, that filters concentrate vapor through water.
Companies that manufacture equipment and technology such as this have seen the trend toward concentrates expand in Colorado, proving that the mature audience there is always on the look-out for better-tasting, more potent and purer products. This avenue grew even more with the introduction of new, portable technology. Instead of the complicated “rigs,” new handheld vaporizers have the same ability to combust the different concentrate products, but are more convenient and discreet. These smaller, battery-operated vaporizers have helped to drive this trend because a consumer can literally carry one in a pocket of their coat, with a one gram jar of concentrate, making it 100% portable.
When looking into technology, there are many advances still to come. Add this to the home delivery process, and these new ideas are sure to increase sales that are already phenomenal.
It’s also important to note, when vaping became a health scare after the pandemic began, consumers turned to solventless extracts, like live rosin and resin. Containing the properties found in whole marijuana plants beyond THC, these choices also include a range of terpenes and minor cannabinoids and don’t contain additives. This has become yet another level that health-conscious consumers are choosing as they, and industry producers, continue their progression toward cleaner marijuana oils and other products.
Colorado is a definite trendsetter for the industry and, without a doubt, they will continue on their billion-dollar path for a good long time to come.
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