oregon cannabis sales 2016 recap

2016 was a solid year for the cannabis industry in Oregon. Data provided by the state’s Department of Revenue indicates legal marijuana generated significantly more tax revenue for the state than expected, at just over $54M. This revenue came despite some strict regulations that were expected to hamper Oregon’s recreational marijuana far more than it did.

Oregon 2016 cannabis sales infographic

Previous estimates by the Oregon Liquor Control Commission (OLCC) were that the state would generate $10.7M in tax revenue from 2014 to 2015, and the Oregon Financial Estimate Committee predicted marijuana tax revenue would fall somewhere between $17M and $40M per year. Both estimates were far short of the state’s year-end total. In total, the cannabis industry did about $394M worth of sales in 2016. Here’s how that total breaks down:

recreational vs. medical cannabis sales

$291M (74%) of that amount was for recreational marijuana, while $103M (26%) was for medical marijuana.

flower sales

$246M in sales was in flower products. That number breaks down into $143M for hybrid, $56M for Indica and $47M for Sativa.

concentrates sales

$67M of the total sales figure was for concentrates. That number breaks down into $30M for vape, $19M to unspecified concentrate products, $6.2M for shatter and another $6.2M for oils.

edibles sales

$27M of the total sales were for edibles. That breaks down into $12M for candies, $6M for chocolates, $5M for infused/others and $4M for tinctures.

other sales

$54M of the total sales fell into miscellaneous categories. Among those categories included $30M for pre-rolled cannabis products, $12M for devices and $12M “others.”Clearly, the industry is already exceeding expectations in Oregon after a relatively short period of legalization. Voters passed Measure 91 to legalize the use of recreational marijuana in 2014, but legal sales did not officially begin in the state until October 2015. This means that within just over a year, marijuana became a near-$400M industry in Oregon worth a significant amount in tax revenue for the state. With how fast the industry has taken off, all estimates indicate it will continue to rapidly expand in the coming years as more companies enter the field and the stigma associated with recreational marijuana use continues to erode. Oregon already got off to a hot start in January with $32.4M in sales, putting it close to the pace needed to exceed 2016’s total. With sales expected to increase throughout the year, look for this to be another big year for the cannabis industry in Oregon. 

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colorado cannabis sales 2016 recap

Just one year after cannabis became legal for recreational use in Colorado, it became a billion-dollar industry. And it only took 10 months in 2016 for Colorado to reach that milestone.

colorado 2016 cannabis sales infographic

By the end of the year, sales of legal marijuana in Colorado reached $1.31 billion. Here’s how that number breaks down:

recreational vs. medical

$876 million of the sales were recreational, while $438 million were medicinal. Recreational accounts for about two thirds of all legal cannabis sales in the state.

flower sales

Flower products accounted for the largest percentage of sales at $729M. Of that portion, $539M was done in hybrid sales, compared to $123M in Sativa and $67M in Indica.

concentrates sales

Concentrates accounted for $285M in sales in 2016. Among concentrates, vape ($80M) reigned supreme, followed by Shatter ($70M), wax ($60M), resin ($24M), oils ($20M), and other products ($31M across different categories).

edibles sales

Edibles accounted for $186M in sales in 2016, including $84M for candy, $38M for chocolates, $17M for infused products, $14M for tinctures, $12M for beverages, $11M for pills and $10M for other products.

other sales

Miscellaneous cannabis products accounted for $112M in sales in 2016, including $61M for pre-rolled products, $46M for “others,” and $5M for balm and salves. Colorado has clearly become the land of opportunity when it comes to cannabis sales in the United States, with by far the most lucrative cannabis industry. This is thanks in large part to tremendous state support. It’s easy to see why the state would support the industry. Through the end of October, Colorado collected more than $150 million in sales tax from sales of legal marijuana products, including almost $50 million from an excise tax that directs marijuana funds toward school construction projects. Every year, the first $40 million collected from the tax is guaranteed to be put to use for schools. Estimates from various cannabis experts indicate the American cannabis industry could reach $22 billion in annual sales by 2020, depending on the political climate of the next several years. The momentum is clearly moving in the direction of more states legalizing recreational cannabis, especially with numerous states voting positively on referendums in the November elections. 2017 is shaping up to be yet another great year of growth for the Colorado marijuana industry! 

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