Exploring Cannabis Consumption Trends in New York 2024

May 11

Introduction

As we delve into 2024, the landscape of cannabis consumption in New York presents new and evolving trends that reflect significant shifts in both consumer behavior and market dynamics.

This article aims to explore these trends, offering a snapshot of the current state of cannabis usage in New York. Understanding these patterns is crucial for grasping the broader changes within the cannabis industry and how they impact consumers.

From the rise of microdosing to the increasing popularity of cannabis-infused beverages, each trend offers insight into the changing preferences and innovative approaches that define the New York cannabis scene in 2024.

This overview serves as a guide to the latest developments in cannabis consumption within the state, highlighting the relevance of these trends in today’s rapidly growing market.

Consumption Trends by Age and Gender

Market Expansion and Accessibility

As of 2024, the expansion of the cannabis industry in New York is significant, with 79% of New Yorkers living in a county that hosts at least one dispensary. (1) This widespread availability has contributed to increasing the normalcy and accessibility of cannabis, supporting a growth in consumer base and usage across the state.

Age-Specific Trends

In New York's 2024 cannabis market, consumption patterns vary significantly across different age groups. Millennials, representing a large portion of the market, are the biggest spenders on cannabis, particularly drawn to edibles and vapes.

Gen Z consumers, however, are rapidly increasing their market share and show a strong preference for microdosing and cannabis-infused beverages, reflecting their interest in controlled dosages and less overt consumption methods. (2)

Demographics of Cannabis Consumers

The demographic landscape of cannabis consumers in New York shows a diverse spread. Remarkably, 50% of Americans, including those in New York, have tried cannabis at some point, reflecting broad experimentation across populations. (3)

Notably, 37% of American women over the age of 21 report using cannabis, primarily for therapeutic reasons such as anxiety relief (60%), sleep aid (58%), and pain management (53%). This highlights a significant gender-specific trend where women are leading the change towards wellness-oriented cannabis use.

Economic Impact and Employment

The cannabis sector has become a critical economic engine in New York, supporting 440,445 full-time equivalent jobs nationwide. (4)

With the industry expected to inject $115.2 billion into the economy in 2024, its impact extends beyond direct sales, influencing broader economic activities and job creation.

Support for cannabis legalization has reached a new peak with 70% of Americans advocating for it, mirroring sentiments in New York. This growing acceptance has encouraged a shift from illicit to legal cannabis markets, ensuring safer and regulated consumption. As the legal framework continues to evolve, it directly influences consumer behaviors and market dynamics.

Technological Integration in Consumption

Technological advancements are reshaping cannabis consumption in New York. With the rise of sophisticated vaping devices and precisely dosed edibles, consumers are increasingly opting for modern, convenient, and discrete methods of consumption.

These tech-driven products meet the demand for higher safety standards and consistency in cannabis use, enhancing overall user experience and compliance with health regulations.

Preferred Cannabis Products in New York 2024

Popular Cannabis Forms

In New York's dynamic cannabis market in 2024, edibles, flowers, pre-rolls and concentrates stand out with distinct consumption trends.

Edibles, capturing a substantial share, are chosen by 18% of cannabis consumers due to their discretion and ease of use. (5) Flowers, preferred for their versatility and natural appeal, make up approximately 34% of the market, reflecting their continued popularity.

Pre-rolls have also surged in popularity in the US cannabis market. Since 2022, sales have notably increased by 13.4%, outpacing other categories. Pre-rolls now comprise 15.3% of total dispensary sales, showing a remarkable 32% rise from January 2022. (1)

Concentrates, known for their high potency, account for around 38% of sales, attracting users seeking strong and rapid effects.

Rise of Innovative Products

The innovation in product forms is evident with the rising popularity of cannabis-infused beverages and microdosed products. Beverages, which include a variety of teas, sodas, and other drinks, are making significant inroads into the market, appreciated for their sociability and fast-acting effects due to advanced nano-emulsification technology.

They now represent about 5% of the edible market. Microdosing products, which allow for precise control of effects, are increasingly favored, especially among health-conscious consumers, marking a shift towards products that support lifestyle integration without overwhelming psychoactive experiences.

New York's cannabis market offers a range of infused delights. Brands like Smokiez, in partnership with Hepworth farm, produce gummies in flavors like blue raspberry and watermelon. (6)

Soft Power Sweets introduces THC-infused caramels, meticulously crafted by chocolatier Shana Napoli. Each batch is carefully dosed and adorned with flavors like matcha latte, providing both a delectable treat and a potent high. These artisanal creations exemplify New York's innovative approach to cannabis consumption.

Impact of Consumption Trends on Market Dynamics

Development of New Products

The current consumption trends in New York are driving the development of new cannabis products to meet evolving consumer preferences.

As consumers increasingly favor methods such as vaping and edibles, manufacturers are diversifying their product offerings to include a wide range of options, from flavored vape cartridges to gourmet cannabis-infused chocolates. This expansion of product variety not only caters to consumer demand but also fosters innovation within the industry.

The shift in consumption preferences is also influencing consumer spending patterns within the cannabis market. With the rising popularity of non-smokable options like edibles and tinctures, consumers are allocating a larger portion of their cannabis budgets towards these products.

Consequently, we observe a corresponding increase in sales of edibles and tinctures, while traditional products like flowers may experience a slight decline in market share.

Conclusion

The examination of cannabis consumption trends in New York reveals a dynamic and evolving landscape. From diverse methods of consumption to the development of innovative products, the market reflects changing consumer preferences and a growing acceptance of cannabis.

Looking ahead, the future of the cannabis market in New York appears promising, with continued expansion and innovation expected. As consumption trends shape market dynamics, there is potential for further growth, economic impact, and societal acceptance of cannabis.

To stay updated on the latest developments in the New York cannabis market and share your insights, we invite you to comment below. Your thoughts and observations are valuable contributions to understanding this rapidly evolving industry.