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Ontario Cannabis Sales
Mar, 2024
Overview
The cannabis market in Ontario has demonstrated a steady growth trajectory over the past two years. With a total sales volume reaching $161.2 million in March 2024, the market has seen a year-over-year growth of 1.5%. This growth is coupled with a slight decrease in average item prices from $23.02 in March 2023 to $21.82 in March 2024, indicating a more competitive market landscape. Month-over-month growth has also been positive at 9.2%, reflecting a robust consumer demand.
Despite a general market expansion, the average item price reduction suggests that consumers are becoming more price-sensitive or that the market is adjusting to increased competition among brands. The total units sold in March 2024 amounted to approximately 7.4 million, with a month-over-month unit growth of 10.2% and a year-over-year unit growth of 7.1%, showcasing a healthy increase in product volume moving through the market.
Mar, 2024
Sales
Year Over Year
Growth
Market Comparison
When comparing Ontario's market to other provinces, it's clear that ON leads in total sales with $161.2 million, far surpassing other provinces like Alberta (AB) with $76.8 million and British Columbia (BC) with $60.4 million in March 2024. Ontario's growth rates, however, are more modest, with a year-over-year growth of 1.5%, compared to Alberta's 6.2% and BC's negative growth of -4.2%.
Ontario's pricing remains competitive, with an average item price of $21.82, which is slightly higher than Alberta's $21.51 and lower than British Columbia's $21.16. The pricing strategy in Ontario may be a factor in driving the volume of units sold, as consumers respond to the balance of price and product variety.
For readers interested in a more detailed analysis or additional insights, Headset Insights offers an in-depth look into market trends and consumer behavior.
Ontario Weed Prices
Category Performance
Focusing on the Pre-Roll category, it stands out with a significant year-over-year sales growth of 14.1% and a month-over-month sales growth of 11.2%. Within this category, the 'Connoisseur / Infused' segment shows an exceptional year-over-year growth of 29.8% and a month-over-month growth of 12.7%, indicating a growing consumer interest in premium and specialty products.
In terms of brand performance within the 'Connoisseur / Infused' segment for March 2024, General Admission leads with $6.43 million in sales, followed by Jeeter with $1.73 million. These brands are succeeding by capitalizing on the growing consumer preference for high-quality, specialty pre-rolls.
Top Cannabis Brands in Ontario
Product Category Market Share In Ontario
Historical Cannabis Sales In Ontario
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