Cannabis Market Brief
Albuquerque's oversaturated market rewards curators and cost-optimizers.
Market Snapshot
Market size
$574M+ all-time; ~$202M recreational since Apr 2022
Dispensaries
100+ area; 600+ statewide; ~33% of operators closed since 2022
Avg flower price
$13/g recreational average; $5-15 range; 61.92% wholesale decline since launch/g
Key Competitors
Urban Wellness (7 locations since 2015)
Pecos Valley Production (20+ statewide)
Ultra Health (30+ statewide)
Oasis Cannabis Co. (17+ locations, loyalty)
Demand Signals
Adult-use 77% of 2024 sales; medical declining; TX cross-border demand; inventory glut driving aggressive price competition
Regulatory Notes
No license cap; 12% excise (escalating +1%/yr through 2030); 300-ft school buffer; 660-ft retailer spacing; drive-thru permitted