Legal and Regs

Top 3 States for Delta 8 Sales

Written by Antonio DeRose

Despite bans and restrictions in many states across the U.S., delta-8-tetrahydrocannabinol (D8) sales still seem to be booming in states where D8 is legal. Although many owners and operators of businesses processing or selling D8 products continue to indicate that sales are up, concrete sales data on D8 is hard to come by. However, a hemp industry analyst recently  told Fortune Magazine that D8 “has been the fastest-growing segment of market for hemp chemicals for roughly the last year”. [1]

It seems obvious that D8 sales have been growing at a rapid pace, but how can we know which states are selling the most? Because D8 sales data is scarce, we can look at a couple of major factors that suggest the top three states where D8 is being sold. The first factor is a state’s population size. The more people there are in a state, the more people there are to purchase products.

The states with the three largest populations in the U.S. are California, Texas, and Florida. It’s fairly safe to assume that these three states could have the most D8 sales because they have the most people to sell it to. However, population size isn’t the only factor to consider. Cannabis legality is another variable that comes into play.

D8 seems to be most popular in states where THC is illegal. This is because D8 has similar effects as THC, making it a legal way to get those euphoric effects without risking breaking the law. This is why hemp business owners in states like Tennessee, where THC is illegal and D8 is legal, are telling reporters that D8 makes up 80% of their sales and as much as $200,000 a month.

If we look at population alone, California, Texas, and Florida are the top three contenders. Texas is currently on the fence about D8 laws, where it was recently banned, then the ban was  overturned, and may be completely overruled in the future. Then when you consider legality and people wanting to access a legal equivalent to THC, states like Tennessee and South Carolina could edge others out despite having lower populations.

Ultimately, these are more speculations than a specific answer to what three states sell the most D8. We’re sure to see more sales data be released in the coming year as companies fill out their year-end reports. Until then, we’ll have to wait. In the meantime, we can just add the release of D8 sales statistics to the 2022 predictions for D8.

 

References:

1- Peltz, J. A new cannabis strain is drawing praise in the industry and scrutiny among lawmakers. Fortune Magazine. 2021. https://fortune.com/2021/07/28/delta-8-thc-chemical-popularity-cannabis-industry-lawmakers-scrutiny-cbd/

2- Yakowitz, W. Delta-8 THC Offers A Legal High, But Here’s Why The Booming Business May Soon Go Up In Smoke. Forbes. 2021. https://www.forbes.com/sites/willyakowicz/2021/03/12/delta-8-thc-offers-a-legal-high-but-heres-why-the-booming-business-may-soon-go-up-in-smoke/?sh=798d87645b3d

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Antonio DeRose

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