A $25.5M Opportunity: 23 Marijuana Brands Compete For New Jersey's Budding Pre-Roll Market

The New Jersey cannabis market, boasting a 23% increase in overall cannabis revenue in the last quarter of 2023, is witnessing substantial growth, particularly in the pre-roll segment.

Despite challenges such as limited brand diversity, pre-roll sales specifically rose by 8%, reaching a total of $25.5 million.

With just 23 active brands in the pre-roll category, this sector represents a significant opportunity for growth as market conditions continue to evolve. This data is sourced from the latest market report by RollPros.

Top Performers And Market Trends

Leading the charge in revenue and product variety is Verano VRNOF, capturing a 21% market share with its extensive line of sleek, modern pre-rolls.

Not far behind, Miss Grass secures top spots with its user-friendly products like the 0.4 gram, 5-pack minis, which make up almost 13% of the category share.

Meanwhile, Edie Parker, although holding a smaller share, has seen a 166% spike in revenue, indicating a growing consumer preference for lifestyle-oriented cannabis products.

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Promising Future Despite Regulatory Challenges

As New Jersey's market matures, the report points out that New Jersey

could experience a revenue surge in pre-rolls, projected to increase from $156.1 million in 2024 to $332.5 million by 2027 - a growth of over 113%.

According to the report, this optimism is tempered by regulatory and licensing hurdles that have kept brand diversity low and prices high. However, as these barriers begin to ease, the market is expected to become more competitive and diverse.

Interestingly, infused pre-rolls, which have exploded in popularity in states like California, remain a tiny fraction of New Jersey's market, representing only 7% of pre-roll sales.

Photo: AI-Generated Image.