Canada’s cannabis market saw a significant decline of 14.8% from December to January, according to a report by MJBizDaily. 

This decrease has prompted retailers to offer discounted cannabis products – allowing consumers to purchase quality cannabis at lower prices. Here’s an overview of the current market and its impact on the sales decline.

Key Points

  • The Canadian cannabis market has seen fluctuations, but overall, it surpassed CA$5 billion in sales in 2023, growing 12.2% from the previous year.
  • Despite generally positive growth, retail cannabis sales dropped 11.5% from December to January, reaching CA$400.1 million.
  • Many retailers offer discounts to boost sales amid declines, increasing accessibility and attracting new customers.

Cannabis Market in Canada

The cannabis market in Canada, since October 2018, has experienced various ups and downs. Annual adult-use sales in Canada exceeded CA$5 billion in 2023, increasing 12.2% over 2022. In contrast, the retail sales of adult-use cannabis in Canada saw a significant decline of 11.5% from December to January, totaling CAD 400.1 million ($294.2 million). Despite these recent challenges, the market continues to expand steadily with an overall positive growth trajectory. 

Key Market Statistics

Statistics Canada revised December 2023 sales to CA$451.8 million, up from CA$441.2 million, raising the full-year 2024 recreational cannabis sales total to CA$5.08 billion (previously CA$5.07 billion).

January cannabis sales grew 1.2% year-over-year compared to January 2023.

Month-over-month sales declined in every Canadian province and territory tracked by Statistics Canada, excluding the Northwest Territories and Nunavut. The decline was especially sharp in Ontario – with a 14.8% drop to CA$156.8 million.

January sales and declines in other jurisdictions were:

Province/TerritorySales (CA$)Month-over-Month Change
Alberta73.8M-10%
British Columbia58.1M-9.8%
Quebec48.8M-10%
Manitoba17.4M-6.6%
Saskatchewan16.1M-2.9%
Nova Scotia9.9M-9.6%
Newfoundland7.5M-5.3%
New Brunswick7.4M-11.7%
Prince Edward Island2.1M-6%
Yukon973K-15.5%

Factors Behind the Weed Sales Decline Trend

Customer Preferences

Canadian consumers increasingly prefer a variety of cannabis products – including dried flowers, oils, capsules, and edibles. This is due to growing acceptance for recreational and medicinal use. Emphasis on product quality, safety, and transparent labelling is also strong.

Market Trends

The Canadian cannabis market is expanding rapidly with more retail outlets and online platforms. There’s a shift towards premium and organic products, reflecting a sophisticated consumer base. Collaborations between cannabis companies and mainstream retailers are further normalizing cannabis use.

Macroeconomic Factors

The market benefits from a stable economy, high disposable incomes, and developed infrastructure for cultivation and distribution. Canada’s progressive stance on continuous cannabis acceptance attracts significant investment – driving market growth and innovation.

Discounted Cannabis Products – A Widespread Sale

Many cannabis retailers are offering discounted products to counteract the decline in sales. These promotions help attract customers and boost sales during challenging times.

Benefits of Discounted Cannabis Products

  1. Increased Accessibility: Lower prices make cannabis products more accessible to many consumers, including those with limited disposable income.
  2. Customer Acquisition: Discounts and promotions can attract new customers looking to try cannabis for the first time or switch from other retailers.
  3. Inventory Management: Offering discounts helps businesses manage their inventory more effectively, preventing overstock and reducing storage costs.
  4. Market Expansion: By making cannabis more affordable, discounts can help expand the market and increase overall consumption.

Discounted products are a temporary solution and a strategic approach to maintaining and growing the customer base during challenging economic times. This approach can foster brand loyalty and long-term customer relationships, ensuring sustained growth and stability in the cannabis market.

Get the Best Discounted Cannabis Products Deals Online

Take advantage of these discounted cannabis products that offer great value without compromising quality.

Flower

Cannabis flower, often called “bud” or “weed,” is the harvested flowering part of Cannabis plants (Cannabis sativa, Cannabis indica, or Cannabis ruderalis) used primarily for recreational and medicinal purposes. Rich in cannabinoids, notably THC, it produces the psychoactive effects of marijuana.

ProductPrice RangeStrain TypeFlavoursTHC (%)CBD (%)Benefits
Forbidden Fruit$17.00 – $32.00IndicaTropical, Grapefruit240.4Deep physical relaxation, stress relief, minor discomfort relief
Mandarin Cookie$99.00HybridCitrus, Pepper240.5Sedating and calming high, suitable for relaxation after dinner
Jack Herer$17.00 – $32.00SativaPine, Spice210.28Cerebral elevation, blissful, clear-headed, and creative effects

Edibles

Edible weed refers to food or beverages infused with THC, CBD, and other cannabinoids from marijuana. Unlike smoking or vaping, edibles have no harsh effects on the respiratory system, making them ideal for medical cannabis patients with lung issues. These cannabis-infused treats come in various forms — baked goods, gummies, and chocolate bars.

ProductPrice THC ContentFormDescription
OneStop – Sour Cherry Lime THC Gummies$17.00500mg total (50mg each)GummiesAffordable, high-quality THC gummies with pure lab-tested Delta 9 THC
Potluck – Infused Chocolate – Cookies & Cream$26.00300mg total (25mg each)Chocolate barPremium chocolate experience with high-quality flavours and full-spectrum cannabis oils

Concentrates

Cannabis concentrates are concentrated extracts from cannabis flowers, containing all the cannabinoids and terpenes but none of the unnecessary plant material. They offer significantly higher concentrations of THC and terpenes than dried flowers, with THC levels often reaching 80-90%, compared to the 15-20% typically found in flowers.

ProductPrice FormBenefits
Full Melt Hash – Kush Cake – 2G$30.00Full Melt HashUplifts mood, relieves stress, ideal for pain relief from sore muscles, helps with depression, anxiety, and chronic pain
Premium Shatter – Hindu Kush – 2G$35.00ShatterPotent Indica for evening use, good for relaxation and medicinal use
CBD Tears – Full Spectrum CBD – 1ml$30.00CBD OilAnxiety relief, skin nourishment, heart health, increased appetite, helps with insomnia and nausea

Weed Vapes

A weed vape is a convenient device for vaporizing cannabis extract or dry herb. Available as portable vaporizers or vape pens, each serves a specific purpose. Vape pens are ideal for using THC vape oil, which is designed for inhalation. Consumers can choose between reusable or prefilled disposable THC cartridges, often using reusables regularly and disposables as backups for occasions like nights out.

ProductPrice THC ContentFormDescription
OneStop – THC Distillate Disposable Vape – Hybrid – 3ml$80.0093% – 95%Disposable VapeHigh-quality THC, infused with natural terpenes, rechargeable, no additives
Sol – 400 mAh Vape Battery (510 Thread)$15.0095%Vape BatteryCompatible with all 510 cartridges, includes USB charger, and multiple power settings.

The Key Takeaway

The cannabis market in Canada is projected to generate a revenue of US$5.63 billion at the end of 2024. With an annual growth rate (CAGR 2024-2029) of 3.17%, the market is expected to reach a volume of US$6.58 billion by 2029.

In comparison, the United States is anticipated to lead the global cannabis market, generating the highest revenue of US$42.98 billion in 2024. On a per capita basis, the revenue in Canada amounts to US$0.44k in 2024.

This ongoing evolution indicates a dynamic market landscape with significant growth potential over the coming years.

Frequently Asked Questions

Who Uses Cannabis the Most in Canada?

Based on the 2022 Canadian Cannabis Survey, cannabis use is on the rise, with 27% of the general population (aged 16 and older) using it, up from 25% in 2021. The highest usage is among customers aged 20-24 years (50%), followed by those Canadians aged 16-19 years (37%) and people aged 25 and older (25%). The most significant increase was in the 25 and older group, which grew from 22% in 2021 to 25% in 2022.

What City Has the Most Cannabis Stores in Canada?

As of January 2024, Toronto, Ontario, has the highest number of cannabis stores in Canada, with 212 outlets. It is followed by Calgary, Alberta, with about 202 stores, and Edmonton, Alberta, with around 195 stores.

How Many Grams of Cannabis Can You Buy in Canada?

Canadian adults (21 and above) can consume up to 30 grams of dried weed in public for recreational use, including various forms like extracts and edibles.