TLRY - Pre-Rolls Vapes And Cannabis Flower: Insights Into The Canadian Marijuana Market | Benzinga
Vape products in Canada's cannabis sector demonstrated significant year-over-year growth in Q3 2023, increasing by 21% and ranking third behind pre-rolls at (+25%) and concentrates at (+43%).
In his latest report, Pablo Zuanic, a senior analyst at Zuanic & Associates delves into the vape, pre-rolls and cannabis flower segments in Canada and sheds light on key market trends.
Cannabis Vapes: Market Share, Sales, And SKU Count In Canada
- Despite this growth, vape's overall market share has remained relatively stable, accounting for 15% of cannabis sales, lower than in U.S. states like California and Colorado.
- The report highlights significant changes in the Canadian vape market from Q1 2021 to Q3 2023.
- Sales increased from C$114 million to C$207 million, a cumulative growth of 81%, with a quarterly compound annual growth rate of 6.1%.
- The number of vape product SKUs also rose from 585 to 759.
- Disposables accounted for 11% of sales, with closed-loop systems like STIIIZY having a significant market share in the U.S.
- The leading players in the Canadian vape market in Q3 2023 were Motif Labs, holding a 21% market share, and Decibel Holdings (OTC: DBCCF) with 13%.
- This represents a notable shift from Q1 2021 when Tilray (NASDAQ: TLRY) and Auxly (OTC: CBWTF) were the market leaders.
Canada’s Flower And Pre-Roll Market
The report also provides insights into the pre-roll and flower segments. Pre-rolls, accounting for 33% of total sales in Canada, ...