Overview

New Mexico carries some of the lowest average cannabis prices in the nation, and they continue to fall—down 5% year over year as of April 2026. That price erosion is dragging total sales down 2.5% even as unit volume ticks upward, a pattern consistent with oversupply in a small-tier market where 552 dispensaries compete for a limited consumer base. The store count itself has contracted about 4% over the past year, suggesting some operators are already exiting. Category shifts tell a sharper story: Concentrates surged more than 31% and Vapes climbed over 14%, while legacy categories like Flower and Edibles declined meaningfully. Over a two-year horizon, sales have slipped roughly 7%, underscoring steady compression rather than a single downturn. DIME INDUSTRIES leads among top brands in this environment. New Mexico legalized medicinal marijuana in 2007 and recreational cannabis in 2021, with licensed adult-use retail sales launching in...

• Top Brand: Dime Industries
• Top Category: Flower (34%)