The cannabis pre-roll market has experienced a surge in popularity, particularly in Canada, where its share of recreational sales has increased from 17% in 2020 to 30% in 2023. This growth reflects a broader industry shift towards convenience and quality.
Custom Cones USA, co-founded by Harrison Bard, has played a significant role in this sector. Bard's expertise and insights will be shared at the upcoming Benzinga Cannabis Capital Conference in Florida, providing valuable guidance for businesses seeking success in the pre-roll market.
Since its establishment in 2017, Custom Cones USA has become a leading supplier and packaging company for pre-rolls. Under Bard's leadership, the company has emphasized innovation and offers comprehensive solutions.
The Canadian pre-roll market has witnessed exceptional growth, with pre-rolls accounting for nearly two-thirds of the overall expansion in the country's recreational cannabis sector in Q2 2023. This segment alone experienced a 23% year-over-year increase.
In contrast, U.S. markets like California and Colorado have varying degrees of pre-roll penetration, indicating significant growth potential for businesses. Infused pre-rolls, which offer high-potency experiences, are a rapidly growing niche, capturing 11% of inhalable cannabis product sales and commanding a 63% price premium over non-infused options.
Bard's insights at the Benzinga Cannabis Capital Conference will highlight the strategic advantage of leveraging expert knowledge in the pre-roll market. The conference, taking place on April 16 and 17, 2024, is a crucial platform for entrepreneurs to network, learn, and enhance their market positioning.