Millennials: big consumers of pre-rollsProducts

As the largest generation in the United States, millennials are reshaping consumer spending trends – including expenditures on cannabis, where that age group dominates the pre-roll market.

Millennials – currently ages 28-43 – are leading the charge in consumption of pre-rolls, accounting for 45% of the $3 billion market, according to a recent study.

“They’re at that sweet spot where they have more money and they have more freedom than younger generations,” Custom Cones USA co-founder and CEO Harrison Bard told MJBizDaily.

“Compared to older generations, they grew up consuming cannabis.”

Consumption and sales of pre-rolls

The study combined survey data from more than 900 cannabis users nationwide with Headset analytics to create a comprehensive look at pre-rolls consumers and their buying habits.

It was conducted by Renton, Washington-based pre-rolls packaging and manufacturing company Custom Cones USA and Seattle-headquartered cannabis analytics firm Headset.

The average price for a pre-roll, according to Headset data, is $6.44 per gram, a number that’s been declining for years.

In September 2022, the average, equalized price for a pre-roll was $8.13.

While millennials account for the biggest share of consumers purchasing pre-rolls, other generations are close behind.

In September, spending on pre-rolls by generation was:

• Millennials (born 1981-96): $103.9 million for 44.6% of total spending.
• Generation X (1965-80): $56.7 million, or 24.3% of total.
• Generation Z (1997-2012): $43.2 million, or 18.5% of total.
• Baby boomers (1946-64): $29.2 million, or 12.5% of total.

Vapes, edibles and pre-rolls

Bard noted that vape pens are popular with Gen Zers but favored less by older generations.

TO CONTINUE READING: MJBiz Daily