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Sponsored cannabis industry news from MJbizdaily.com
Products in Ohio’s recreational marijuana market are showing signs of price contraction only five months after sales began.
Adult-use sales for the market topped $242.2 million in 2024, meeting industry expectations for the potential of a market that launched on Aug. 6.
And while sales are growing, an analysis of weekly adult-use data from Ohio’s Division of Cannabis Control (DCC) shows the price per item/pound in almost all the categories slid with more than half the products experiencing double-digit declines.
Plant material, which accounts for 52% of recreational sales in Ohio, almost doubled since the market opened.
Ohio consumers bought 2,158 pounds of plant material in the first week of January 2025, up from 1,284 pounds in the week ending Aug. 10.
But declining prices could be feeding that demand.
The price per pound for plant material declined 32%, or $1,500, since the market opened, settling in at $3,178 per pound for the week ending Jan. 4.
Ohio DCC data also shows that the average price for a gram slid 27.6%, from $9.40 when the market opened, to $6.80 for the week of Jan. 19-25.
The average price of manufactured product sales was $28.08 for that week in January, declining only 9.6% since the recreational market opened.
More specifically, the price per item for edibles declined 17.1%, while the prices for oils/solids for vapes declined 11%.
Product mix also has shifted since Ohio consumers have had access to recreational cannabis.
Sales of manufactured products such as edibles, ointments and tinctures have contracted since August as the sale of oil/solid for vapes grew.
In fact, sales of plant material and oil/solid for vapes have experienced double-digit growth since the recreational market launched.
If other markets are any indication, this growth in Ohio likely will continue through 2025 despite price fluctuations and product-mix shifts.
Andrew Long can be reached at andrew.long@mjbizdaily.com.
Sponsored cannabis industry news from MJbizdaily.com
Ohio recreational marijuana market already showing signs of price contraction
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