Cannabis concentrates (also known as hemp concentrates, hemp extracts, or hemp extracts) are concentrates of tetrahydrocannabinol (THC) and/or cannabidiol (CBD). Cannabis concentrates contain high levels of THC, ranging from 40% to over 90%, higher THC levels than premium cannabis, typically measuring around 20% THC levels.
Legally produced concentrates for retail sale in legalized U.S. states are often packaged in small lip balm-sized containers., nevertheless it can come in various shapes and forms.
According to cannabis analytics firm Brightfield Group, cannabis users are turning to extracts and concentrates as they seek more benefits.
Falling prices for flowers and economies of scale behind the production of extracts such as live resin or rosin are factors that have contributed to its popularity among cannabis users.
As the market matures, cannabis users will seek varieties and higher potencies, triggering demand for manufactured cannabis products.
“Over 64% of consumers use marijuana at least daily. … The more you use it, the higher your tolerance. It’s helping build the cannabis concentrates market,” Brightfield CEO Bethany Gomez told MJBizDaily.
With inflation, consumers have become more price-conscious, and products have become more sophisticated in terms of branding and packaging, Gomez said.
“We’re seeing consumers reluctant to quit using cannabis and use less product. But they’re definitely looking for more affordable prices, which is why cannabis concentrates can be a really effective product for heavy users,” Gomez said.
Living Resin, Wax and Rosin: Top 3 in the U.S. Concentrated products have become cheaper as wholesale flower prices across the country have fallen. This allows some stores to sell cartridges of concentrates for $11, although prices may increase depending on product quality and brand.
According to Cooper Ashley, analytics manager at data firm Headset, “Reactive resin is by far the most popular segment (in cannabis concentrates). Currently we have active resin on top. Wax is second, rosin is third.”