U.S. Marijuana Consumers Have Spent More Than $4.1 Billion On Pre-Rolled Joints In The Past Year And A Half, Industry Report Finds

American marijuana consumers have spent more than $4.1 billion on pre-rolled joints over the past year and a half, according to a new industry report, with the products now making up about 15.9 percent of the cannabis market.

Among the latest trends in the pre-roll market, it adds, is the continued growth of specialty infused pre-rolls, which are sold as a premium product and typically contain marijuana concentrate. Those products, which command higher price points than standard pre-rolls, accounted for almost half (44 percent) of the pre-roll market during the first half of 2024.

Harrison Bard - Co-founder and CEO of Custom Cones USA & DaySavers

The findings were compiled by product manufacturer Custom Cones USA using data from the cannabis intelligence firm Headset, which collects point-of-sale data in a dozen U.S. states. It’s Custom Cones’s third year releasing a white paper on the current state of the pre-roll market

“Every year we like to hunker down and look at the story the data is telling,” Harrison Bard, the company’s co-founder and CEO, said in a press release. “Thanks to the help of our partners at Headset, we can now see even more clearly that pre-rolls are continuing to dominate the market on an upward trajectory that confirms our belief that pre-rolls remain a potent and profitable symbol of the cannabis industry as a whole.”

The data put pre-rolls in third place in terms of product form factors at marijuana retailers, following raw flower and vape pens. The report notes that in June 2024, sales revenue from pre-rolls was almost 12 times that of infused beverages.

From January 2023 to June 2024, pre-rolls saw “a meteoric increase in market share,” Custom Cones said, rising from 13.2 percent to 15.9 percent over that time period.

“The rise of the pre roll market is even more impressive when looking back even further,” the company noted. “Pre roll market share has increased every year since 2020 – when it stood at just 9.8%. The increase in sales revenue in the last five years is nothing short of remarkable: annual pre roll sales revenue went from $469 million in 2019 to $2.7 billion in 2023. That’s nearly a sixfold increase in annual revenue.”

Prices on pre-rolls have also been falling, dropping from $7.80 per unit in January 2023 to $6.50 per unit in June 2024, a reduction of about 16.7 percent. But the overall size of the market is growing thanks to greater sales volume.

“Although average item price is on the decline, total pre roll items sold are skyrocketing – going from 15.9 million items sold in January 2023 to a record 26 million units sold in June 2024,” the report says.

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