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Ontario Cannabis Sales
Dec, 2024
Overview
The cannabis market in Ontario has shown a complex pattern of growth and pricing dynamics as of December 2024. With an average item price of $21.39, down from $21.65 in November 2024, the market is experiencing a slight decrease in pricing. Total sales reached approximately $172.7 million, marking a modest month-over-month growth of 0.8% but a year-over-year decline of 6.1%. This indicates a challenging environment where despite short-term gains, the market faces longer-term hurdles in maintaining its growth trajectory.
Despite these challenges, the total units sold in December 2024 stood at about 8.07 million, reflecting a 2.1% increase from the previous month. However, this figure also represents a 3.1% decrease compared to the same period last year, suggesting that while more products are being sold, the overall revenue generation is hampered by lower pricing and possibly changing consumer preferences.
Dec, 2024
Sales
Year Over Year
Growth
Market Comparison
When comparing Ontario's market to other provinces like Alberta (AB), British Columbia (BC), and Saskatchewan (SK), Ontario leads in total sales with $172.7 million, significantly higher than BC's $67.4 million and SK's $16.1 million. However, Ontario's year-over-year sales growth rate of -6.1% contrasts sharply with BC's growth of 6.0%. This suggests that while Ontario has a larger market size, other regions are experiencing more robust growth rates.
Pricing across these provinces shows Ontario at a mid-range with an average item price of $21.39, compared to the slightly higher $21.83 in BC and $21.29 in SK. This positioning indicates a competitive pricing strategy in Ontario, balancing between volume sales and revenue maximization.
Category Performance
The Tincture & Sublingual category, particularly the segment of Breathstrips and Sublingual Pouches, has shown remarkable growth. In December 2024, this segment achieved a total sales of $124,553 with an average item price of $25.91, significantly lower than the previous month's $27.80. Despite the lower price, both month-over-month and year-over-year growth rates were exceptionally high at 23.5% and 134.7% respectively, with unit growth rates even more impressive at 32.5% and 177.3%.
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Product Category Market Share In Ontario
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