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Ontario Cannabis Sales
Jun, 2024
Overview
The cannabis market in Ontario has shown a complex pattern of growth and pricing over the past two years. As of June 2024, the average item price in Ontario has slightly decreased from the previous year, settling at $21.71, down from $22.45 in June 2023. Total sales in June 2024 amounted to approximately $164.43 million, marking a significant year-over-year decline of 8.1%. This decline in sales and pricing suggests a challenging market environment, potentially influenced by increased competition, regulatory changes, or shifts in consumer preferences.
Despite these challenges, the market has experienced fluctuations with periods of growth, particularly noticeable in the year 2023 where months like July and August saw substantial year-over-year growth rates of 19.6% and 26.2% respectively. However, these gains were not sustained into 2024, as evidenced by consistent negative month-over-month and year-over-year growth from January onwards.
Jun, 2024
Sales
Year Over Year
Growth
Market Comparison
When comparing Ontario to other major markets in Canada like Alberta (AB) and British Columbia (BC), Ontario leads in total sales but is experiencing sharper declines. For instance, Alberta saw a year-over-year sales growth of 5.1% and a unit growth of 13.3% in June 2024, contrasting sharply with Ontario's declines. Similarly, BC experienced smaller declines or growth in certain metrics, indicating a more resilient market environment.
Ontario Weed Prices
Category Performance
The Flower category, traditionally a strong performer in cannabis markets, has faced significant setbacks in Ontario. In June 2024, this category saw a year-over-year sales decline of 16.3% and a decrease in units sold by 19.7%. The average item price for Flower was $41.21, which is higher compared to other categories, indicating that while premium products are still in circulation, the volume of sales has diminished.
The Hybrid segment, despite experiencing the largest sales volume within the Flower category, also faced a significant decline, similar to other segments. This suggests a broad market recalibration rather than isolated issues.
Top Cannabis Brands in Ontario
Product Category Market Share In Ontario
Historical Cannabis Sales In Ontario
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