VFF - Tilray Decibel Village Farms Poised For Success? Analyst Examines Canada's Marijuana Market | Benzinga
Canada's cannabis industry is about to hit C$6 billion (nearly $4.4 billion) in retail sales. In its latest report, analysis firm Z&A looks into the thriving year-on-year surge in recreational sales and the worrisome downturn in the medical marijuana sector.
The report examines the market performance of major players like Tilray (NASDAQ: TLRY), Decibel Cannabis Company Inc. (OTC: DBCCF) and Village Farms International, Inc. (NASDAQ: VFF) to address a critical query: What drives the divergent paths of Canada's recreational and medical cannabis markets, and who is at the forefront?
"Canada's growth rate is impressive, given the similar legal framework. However, it highlights the potential for even more growth as the market matures," wrote Pablo Zuanic, chief analyst at Z&A.
Recreational Weed Is Up, Medical Is Down
Canada's recreational cannabis market witnessed a remarkable 12.3% year-on-year growth, outpacing the U.S. Despite regulatory hurdles, this market displays substantial potential for further expansion.
In contrast, Canada's medical marijuana (MMJ) market has experienced a decline in recent years, with sales dropping from C$501 million in 2021 to C$401 million in 2023, impacting leading companies such as Aurora (NASDAQ: ACB) and ...