Report: New York Home to 500+ Cannabis Brands

According to the New York Office of Cannabis Management’s annual market
report released Tuesday, there are more than 500 cannabis brands in the
state and more than 260 operational dispensaries statewide, with over $1
billion in sales since the industry launched two years ago.

According to the report, 55% of dispensaries are run by social equity
licensees.

Felicia A. B. Reid, acting executive director of the state Office of
Cannabis Management, said the report “reflects the dynamism of New York’s
cannabis industry – an industry that is shifting rapidly as the market
matures and encounters both opportunities and challenges.”

“But, as ever, OCM is deeply committed to ensuring that the industry is
reflective of New Yorkers and creating meaningful and forward-looking
opportunities for communities historically affected by cannabis
prohibition. The agency must grow alongside the market, and this report is
a critical retrospective to inform future strategy.” — Reid, in a statement

Of the more than 500 brands in the New York market, two-thirds only supply
products in one or two categories, and market growth with the number of
retail dispensaries nearly tripled last year, according to the report.

Flower was the most popular product sold throughout New York dispensaries –
comprising 33% of all sales during the report period — followed by vapes
(28%), edibles (14%), prerolls (12%), concentrates (11%), tinctures and
tablets, capsules, and lozenges (2%), and topicals (0.2%). Infused prerolls
comprised the largest share of concentrate products (58%), while gummies
made up the majority of edible sales (84%), followed by beverages (9%) and
chocolates (5%).

According to the OCM report, Dank, Ayrloom, Jaunty, Off Hours, and MFNY are
the most popular brands sold at New York dispensaries.