Cannabis consumers in Washington state are concentrating on concentrates like never before, new research reported by Marijuana.com has found.
The sale of cannabis concentrates in Washington has skyrocketed since October of 2014, according to a study from the Society for the Study of Addiction (SSA.)
Researchers set out to “assess trends and variation in the market share of product types and potency sold in a legal cannabis retail market, and estimate how potency and purchase quantity influence price variation for cannabis flower.”
With this mission statement in mind, they performed a secondary analysis of data from Washington state’s cannabis traceability system spanning July 7, 2014 to Sept. 30, 2016.
“Descriptive statistics and linear regressions assessed variation and trends in cannabis product variety and potency,” reads the study. “Hedonic regressions estimated how purchase quantity and potency influence cannabis flower price variation.”
After assessing roughly 44 million cannabis transactions over a two-year period, researchers discovered that the sale of cannabis concentrates now accounts for more than one fifth of the state’s total sales.
“Traditional cannabis flowers still account for the majority of spending (66.6 percent), but the market share of extracts for inhalation increased by 145.8 percent between Oct. 2014 and Sept. 2016, now composing 21.2 percent of sales,” the study states.
“In the state of Washington, the legal cannabis market is currently dominated by high-THC cannabis flower, and features growing expenditures on extracts. For cannabis flower, both THC and CBD are associated with higher per-gram prices.”