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Canada’s Legal Cannabis Retail Sector Shrank In Spring 2024

Canada remains the largest national cannabis commerce public policy experiment on the planet. The North American country legalized cannabis for adult-use in 2018, including regulated sales through licensed retail outlets. According to recent reporting by StatCann, the nation’s legal cannabis retail footprint shrank slightly in recent months.

“The number of retail stores across Canada also declined by 26 stores. As of June 21, 2024, there were 3,663 authorized retail cannabis stores in Canada, down from 3,689 in March. This figure excludes provincial online stores.” StratCann reported.

“The declines came from BC and Alberta, with BC showing 25 fewer stores and Alberta losing 44. All other provinces showed increases or stayed the same.” StratCann also stated.

Canada’s legal cannabis industry sold C$428.6 million worth of products in April 2024 according to data released today by Statistics Canada. April’s cannabis sales total is a 5.3% increase compared to March 2024 when Canada’s legal cannabis industry sold C$406.8 million worth of products.

“In 2023, total sales increased 12.5% to C$5.09 billion, and in 2024 they have increased just 3.0% from a year ago.” stated New Cannabis Ventures in its original coverage. Below is a table containing monthly cannabis sales totals in Canada over the last year via Statistics Canada:

monthly canada cannabis sales data 2023 2024

According to other data that was recently published by Statistics Canada, “In 2023, more than one-third of adults aged 18 to 24 years (38.4%) and 25 to 44 years (34.5%) reported using cannabis in the previous 12 months, compared with 15.5% of adults aged 45 years and older.”

Statistics Canada also found that 8.7% of adults aged 18 to 24 years and 10.3% of adults aged 25 to 44 years report consuming cannabis daily or almost daily.

Additionally, “over two in three” cannabis consumers bought their cannabis from regulated sources according to government data. Statistics Canada estimates that the nation is home to “more than 3,000 legal cannabis stores.”

According to survey data, Statistics Canada found that “the main reasons reported for buying cannabis from a legal source were product safety (38.0%), convenience (16.9%) and a desire to follow the law (12.9%).”

Cannabis flower is the top selling product in Canada’s legal market, accounting for 64.9% of total industry sales. Total sales of recreational cannabis by provincial cannabis authorities and other retail outlets increased 15.8% in the 2022/2023 fiscal year, reaching a total of $4.7 billion in sales. The sales of ‘inhaled extracts,’ or concentrates, increased by 59% during the 2022/2023 fiscal year.

“Canadians of legal age spent on average $150 per year per person on cannabis in 2022/2023.” stated Statistics Canada.

Canada’s emerging legal cannabis industry is generating a consider sum for public coffers, which benefits all of Canadian society, not just cannabis consumers. Statistics Canada has determined that, “Federal and provincial governments received $1.9 billion from the control and sale of recreational cannabis in 2022/2023, up by almost one-quarter (+24.2%) from a year earlier.”