New Frontier Data and GrowGeneration Corp. release a first-of-its-kind report examining market insights on cannabis cultivation supplies, brands and products
December 20, 2017
Washington – New Frontier Data, the global cannabis industry authority in business intelligence and data analysis reporting, in partnership with GrowGeneration Corp. (OTCQX: GRWG), the largest publicly traded cannabis specialty retail hydroponic and organic gardening stores, has just published Cannabis Cultivation Insights: Retail Supplies Market, the first-ever study dedicated to the growing cannabis cultivation supplies sector, presenting unprecedented data and analytics on market size, growth trends, pricing and brand traction.
“There has not been a new crop discovery in modern times, so to have front row seats to the impact cannabis cultivation is having over mature adjacent segments such as cultivation supplies, which traditionally has seen little to no growth, is just incredible. We expect cannabis, and soon hemp, cultivation and verticals that support it, to not only experience unique trends, but to also begin impacting their respective counterpart verticals across other more mature cultivation sectors, changing the way we think about cultivation globally,” said New Frontier Data Founder & CEO Giadha Aguirre de Carcer. And added, “We could not be more excited to have partnered with GrowGeneration to gain this unprecedented view into such an interesting market segment.”
“Cultivators are getting much more sophisticated at scaling their businesses and navigating the various compliance issues, and this is transferring to the product side as a result. We have seen products taken off the shelves because they did not comply with regulations, and we will see more of that as states get more involved in how the plants are being cultivated and what fertilizers are being used. It is exciting to see the new innovative products that are coming to market to meet the increasingly nuanced demands of cultivators and consumers. Working with New Frontier Data to take a deep dive into each market category and its industry impact has been illuminating for us, and we are sure it will be for others,” said GrowGeneration Corp. President & Co-Founder Michael Salaman.
Among the key findings from the report:
- Organics, Nutrients and - to a slightly lesser extent - Pest Control supplies categories have seen the largest percentage growth in 2017.
- Medium and Nutrients consistently drive cultivation supplies revenue, illustrating the delicate balance needed in growing cannabis.
- Lights have the most volatile sales due to their high price points and positioning as one-off purchases.
- Competition amongst brands is intense, with ample opportunity for both smaller and new players to become category and market leaders.
- Since adult-use legalization in 2014, the number of licensed adult-use cultivators in Colorado is growing 33.5% annually, a rate 28x faster than their medical peers.
The partnership between New Frontier Data and GrowGeneration Corp. provides cultivators, supplies manufacturers, investors and other involved industry players investigating the supplies sector key information about the most actionable aspects of this dynamic market. Cannabis Cultivation Insights: Retail Supplies Market, the first-of-its-kind report, provides a detailed exploration of product category sales, including top-selling products and brands in the five major product categories: Medium, Nutrients, Grow Lights, Pest Control & Organics.
For more information, or to purchase the report visit https://newfrontierdata.com/product/cultivationinsights/.
About New Frontier Data:
New Frontier Data provides objective, rigorous and comprehensive analysis and reporting for the nascent and underserved cannabis industry worldwide. New Frontier Data’s analytics and reports have been cited in over 65 countries around the world to inform industry leaders. New Frontier Data, the premiere and only Big Data shop in the sector looks beyond the plant cultivation and distribution, to raise the industry bar and improve visibility into what will inevitably soon be a mature and more complex global market. Founded in 2014, New Frontier Data is headquartered in Washington, D.C. and has additional offices in Denver.
New Frontier Data does not take a position on the merits of cannabis legalization. Rather, its mission and mandate are to inform cannabis-related policy and business decisions through rigorous, issue-neutral and comprehensive analysis of the legal cannabis industry. For more information about New Frontier Data please visit: www.newfrontierdata.com.
About GrowGeneration Corp.:
GrowGeneration Corp. (“GrowGen”) owns and operates specialty retail hydroponic and organic gardening stores. Currently, GrowGen has 14 stores, which includes 9 locations in Colorado, 2 locations in California, 2 locations in Las Vegas and 1 location in Washington. GrowGen carries and sells thousands of products, including organic nutrients and soils, advanced lighting technology and state of the art hydroponic equipment to be used indoors and outdoors by commercial and home growers. Our mission is to own and operate GrowGeneration branded stores in all the major legalized cannabis states. Management estimates that roughly 1,000 hydroponic stores are in operation in the U.S. By 2020 the market is estimated to reach over $23 billion with a compound annual growth rate of 32%.