Canadian cannabis market continues to grow, with Ontario nowhere near retail store saturation: Brightfield

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Brightfield Group already sees budding partnerships between Canadian and U.S. cannabis brands, with licensed producers (LPs) “bringing American products to the Canadian market. In February, the Alcohol and Gaming Commission of Ontario (AGCO) reported that it was issuing 30 cannabis retail store authorizations (RSAs) weekly, up from 20 a few months earlier. As of mid-month, AGCO reported it had received more than 1,630 RSA applications and had issued 489 RSAs, with 430 authorized cannabis retail stores open in the province in the province. Overall, the size of the Canadian cannabis market — meaning recreational and medicinal — was about $2.6 billion in 2020 and is expected to grow over the next few years, notes the report. With regard to product preferences, Brightfield Group expects that the market will remain overwhelmingly THC-dominant, especially in categories such as flower, which appeal primarily to regular users.

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Retail served as the main driver of a 118 per cent increase in Canada’s recreational cannabis market last year, with the much-anticipated rollout of stores in Ontario quickening its pace and Alberta witnessing steady growth.

“The opening of retail outlets drove growth in 2020,” notes a new report on Canada’s recreational weed market from Brightfield Group, a consumer insights and market intelligence firm for the CBD and cannabis industries.

In February, the Alcohol and Gaming Commission of Ontario (AGCO) reported that it was issuing 30 cannabis retail...

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