Cannabis Sales Hit Record High In Canada: $268M In July Alone

The year 2020 saw triple-digit growth in Canada’s legal cannabis market, which was largely driven by:

  • Increased brick-and-mortar retail access – especially in Ontario, British Columbia and Quebec;
  • An expansion in e-commerce and click-and-collect offerings;
  • Pricing that was more competitive with the illicit market;
  • Retailers adapting to a pandemic context and the rise of value brands.

"Canada’s nationwide legalization efforts initially started off slow, but growing retail distribution and expanding derivative product offerings are helping businesses capture market share from illicit sales," wrote Andrew Little in a recent Global X report.

Today's Best Finance Deals

In April 2021, Canadian cannabis sales hit CA$309.7 million ($251.7 million), representing a 3.8% increase compared to March and a 73.6% year-over-year spike, according to data from Statistics Canada.

While in July, Canadian legal marijuana sales increased 6.2% month-to-month to a record CA $338.9.

Monthly sales from licensed adult-use dispensaries rose in all Canadian provinces, reported MJBizDaily. 

  • Ontario: CA$126.7 million (+5.5%). 
  • Alberta: CA$60.7 million (+4.9%).
  • Quebec: CA$52.1 million (+5.9%).
  • British Columbia: CA$48.5 million (+9.4%).
  • Saskatchewan: CA$13.2 million (+1.9%).
  • Manitoba: CA$12.8 million (+7.4%).
  • Nova Scotia: CA$8.8 million (+6.9%).
  • New Brunswick: CA$7.3 million (+11.2%).
  • Newfoundland: CA$5.3 million (+8.5%).
Market News and Data brought to you by Benzinga APIs

Cannabis is evolving—don’t get left behind!

Curious about what’s next for the industry and how to stay ahead in today’s competitive market?

Join top executives, investors, and industry leaders at the Benzinga Cannabis Capital Conference in Chicago on June 9-10. Dive deep into market-shaping strategies, investment trends, and brand-building insights that will define the future of cannabis.

Secure your spot now before prices go up—this is where the biggest deals and connections happen!

Get your tickets today!

Comments
Loading...