Some facts and figures on cannabis use in Canada:
The Canadian cannabis market more than doubled in value between 2019 and 2020, going from $1.2 billion to $2.6 billion, according to Statistics Canada and it continues to grow rapidly. Statista.com predicts the market to reach over $7 billion by 2026.
Legal cannabis sales didn’t supplant black market sales in Ontario until the third quarter of 2021, according to Statistic Canada.
Ontario alone had 1,468 licensed cannabis stores as of May, 2022.
Retail sales almost doubled in Ontario between 2019 and 2021, aligning with the lifting of the cap on number of stores, according to the Canadian Centre on Substance Use and Addiction .
Toronto leads the country in sales by city, doing $54.1 million in business in July 2022, up 5% over June, according to Statistics Canada.
The 2021 Canadian Cannabis Survey by Statistics Canada said 29% of males said they used cannabis in the prior 12 months, down from 31% the previous year. It had females at 22% from 23% in the 2020 survey.
Interestingly, usage from those aged 16-19 dropped nearly 20% between 2020 and 2021 (44 to 37%).
The portion of cannabis sales made in OCS stores or on-line grew from 19% in the fourth quarter of 2019 to 54% by the third quarter of 2021, which was 28% more than the second quarter totals.
The average price for cannabis was $11.78 per gram in January 2019, not long after legalization, but dropped to $7.50 per gram in 2021, a November 2021 report from Deloitte Canada and cannabis research firms Hifyre and BDSA said.
The average price for vape cartridges fell by 41% from $32.02 per gram around legalization to $19 per gram a year later.
The report found 34% of consumers in Canada said price was their top consideration when purchasing cannabis.
Early on, during the first year of legalization, 13.3% of cannabis sales were made online. By 2020, 43% of users said they preferred to buy online, according to a survey conducted by research firm Maru/Blue for the cannabis brand Figr.
Prices for recreational and medicinal cannabis have dropped by 8.3 per cent and 10.2%, respectively, over the past year, and by roughly 25% in both categories since the end of 2018, according to Statistics Canada. The annual inflation rate hit 6.7 per cent in March, the highest since 1991.
Dried cannabis sales represented 58% of total sales across Canada for the December 2021 reporting period. Edibles were next at 24%.
SOURCE: https://www.msn.com/en-ca/money/top...sedgntp&cvid=1bb791a9003c4520a8a883d3a2485d07
RMS
