Benchmarking
Market ComparisonApr 2026
Arizona's nearly 10% sales decline over two years stands out among emerging-tier markets, where most peers have stabilized or grown modestly. With 178 dispensaries and essentially zero store growth, the market appears saturated at its current demand level. Flat pricing suggests operators are holding the line rather than racing to the bottom, but volume erosion continues to weigh on overall performance.
24-Month Trend

| State | Sales | YoY |
|---|---|---|
| Illinois | $120-130M | 3.7% |
| Ohio | $110-120M | 30.5% |
| Arizona | $100-110M | 2.4% |
| Colorado | $100-110M | 6.9% |
| New Jersey | $100-110M | 12.5% |
Benchmarking
Market ComparisonApr 2026
Arizona's nearly 10% sales decline over two years stands out among emerging-tier markets, where most peers have stabilized or grown modestly. With 178 dispensaries and essentially zero store growth, the market appears saturated at its current demand level. Flat pricing suggests operators are holding the line rather than racing to the bottom, but volume erosion continues to weigh on overall performance.
24-Month Trend

| State | Sales | YoY |
|---|---|---|
| Illinois | $120-130M | -3.7% |
| Ohio | $110-120M | +30.5% |
| Arizona | $100-110M | -2.4% |
| Colorado | $100-110M | -6.9% |
| New Jersey | $100-110M | +12.5% |