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Home»Business & Industry»Report: Canadian Cannabis Sales Grew 157% Over Last Two Years
Business & Industry

Report: Canadian Cannabis Sales Grew 157% Over Last Two Years

June 29, 2023No Comments2 Mins Read
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Report: Canadian Cannabis Sales Grew 157% Over Last Two Years
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Canadian hashish gross sales have grown 157% from Might 2020 to Might 2023, in accordance with a report from hashish intelligence agency Headset. Whereas gross sales have elevated year-over-year, gross sales development from 2022 and 2023 was 11.8%, in comparison with 88.3% from 2020 to 2021, the report says.

During the last yr, hashish flower gross sales in Canada decreased 15.8% whereas pre-roll gross sales have grown by 23.5%, bringing the class practically even with flower, in accordance with Headset. Vape pens noticed a 7.1% gross sales enhance, drinks a 5.2% enhance, and concentrates a 1.6% enhance. Gross sales of capsules fell 7.8%, topicals 19.6%, and oil 23%. The gross sales of tinctures and sublingual merchandise fell from 0.1% to 0.0%.

The report additionally discovered a 369% enhance within the variety of manufacturers within the Canadian hashish market from 2020 to 2023, however the market is turning into extra concentrated. In 2021, the highest 21% p.c of manufacturers captured 80% of whole gross sales – that determine was 12% to date this yr.

“However with all of those new gamers getting into the sport, is there sufficient gross sales development to assist them or is tightening competitors stymieing their success? Retailer rely development has added extra accessible actual property for these manufacturers, nevertheless, it doesn’t appear to be sufficient to unfold the wealth throughout all new entrants. Between 2020 and 2023, the median whole gross sales per model dropped by 70%. Moreover, the overall gross sales out there have change into considerably extra concentrated by a subset of high manufacturers.” — Canadian hashish overview: a have a look at the final 5 years of leisure gross sales, Headset, June 27, 2023

Flower costs have additionally flattened because the begin of 2022 following a number of years of value compression, in accordance with the report, whereas the costs of edibles with greater THC ranges noticed a 25.3% value discount as their reputation rose.

Prospects are additionally spending much less per journey, as the common basket dimension has decreased 15.6% during the last two years and the variety of merchandise per basket dropped by 5.1%, the report says.

Information for the report got here from real-time gross sales reporting by taking part hashish retailers through their point-of-sale programs, that are linked with Headset’s enterprise intelligence software program.

Get every day hashish enterprise information updates. Subscribe

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