‘Cannabis 2.0’ Products Dent Canada’s Dried-Flower Market

Article by Matt Lamers, Growth Op

‘Cannabis 2.0’ products dent Canada’s dried-flower market Published 15 hours ago | By Matt Lamers

Dried flower’s overall share of the regulated adult-use cannabis market in Canada waned throughout 2020 as competition from new product categories steadily increased, the latest data from Statistics Canada shows.

Dried flower still dominated the market overall, however.

In the final three months of 2019, dried flower accounted for nearly 90% of all adult-use marijuana sales in Canada as “Cannabis 2.0” products started trickling into stores across the country. Cannabis 2.0 refers to categories such as cannabis-infused edibles, vape pens and topicals.

By the end of March 2020, dried flower’s market share had fallen to 81% of sales, then further to 77% by the end of June, and 76% by the end of September.

Dried flower sales were 374.5 million Canadian dollars ($298 million) in the fourth quarter of 2019, CA$397 million in the first quarter of 2020, CA$435.1 million in the second quarter and CA$564.7 million in the third, according to the Statistics Canada data.

Dried-flower sales grew more slowly than the overall market.

Retail sales of all recreational cannabis products doubled between December 2019 and September 2020.

Consumers purchased CA$355 million worth of cannabis products between October 2019 and December 2019, rising to CA$741.4 million between July 2020 and September 2020.

After dried flower, the next best-selling category was extracts and concentrates.

Retail sales of extracts and concentrates were CA$36.1 million in the first quarter of 2020, CA$66.5 million in the second quarter and CA$97.6 million in the third quarter.

Cannabis-infused edibles products did not do as well.

Read the full article here.

About Dankr NewsBot

Beep Boop. I'm just a bot who brings you the dankest news in the biz

Leave a Reply

Powered by Dragonballsuper Youtube Download animeshow