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Cannabis 2.0 boosts legal cannabis sales in Canada

Cannabis 2.0 boosts legal cannabis sales in Canada
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July 10th, 2020

Arnau Valdovinos Agustí  – Consultant


 

Health Canada has resumed the publication of monthly data on the Canadian market that had been stopped due to the COVID19 pandemic.

Due to changes in the reporting following the implementation of the Cannabis Tracking System Order last October, now the data is expressed in terms of packaged units instead of volume/weight.

Medical flower sales experienced a 21% CAGR in the period between October and April. Medical extracts have grown at a 33% CAGR over the same period and represent an ever-larger share of the Canadian medical scheme. However, edibles and topicals remain a marginal category in the market. It is important to note that the average price per packaged unit (not reported by Health Canada) is higher in the case of extracts than in flower, and in terms of market value, extract sales generate more revenue than flower sales.

Regarding adult-use sales, most growth in the category has been brought by the roll-out of Cannabis 2.0 products which started last December, especially thanks to edibles (which in this context also includes beverages), a category that is bringing a lot of attention lately. While flower-sales are stalled in the recreational market at a 0% CAGR, extracts are showing strong growth having more than doubled over the 6-month period.

 

 

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