Cannabis Flower? No, Thanks: Canadians Shift To Pre-Rolls & Vapes As Market Eyes C$5.47B
Portfolio Pulse from Nicolás Jose Rodriguez
The Canadian cannabis market is experiencing a shift in consumer preferences, with pre-rolls and vapes gaining popularity over traditional flower products. The market is projected to reach C$5.47 billion in 2024. Key players like Village Farms, Cronos, and Organigram are seeing growth, while Tilray and Decibel face declines.
September 09, 2024 | 11:06 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Cronos maintains a steady 5.3% market share with a 24% YoY growth in sales. The company's stable position in the market reflects its ability to adapt to changing consumer preferences.
Cronos' stable market share and significant sales growth suggest resilience and adaptability in the face of changing market dynamics.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Organigram's market share has grown to 7.2%, with a 15% YoY increase in sales. The company is benefiting from the shift towards pre-rolls and vapes.
Organigram's growth in market share and sales aligns with the increasing consumer demand for pre-rolls and vapes, indicating positive momentum.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Village Farms has increased its market share to 7.9%, with a 34% YoY growth in sales. The company's strong performance in the Canadian cannabis market suggests positive momentum.
Village Farms' significant YoY growth and increased market share indicate strong performance and potential for continued success in the evolving cannabis market.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 85
NEGATIVE IMPACT
Decibel's market share has declined to 5.2%, with a 25% YoY decline in sales. The company is struggling to keep up with the shift towards pre-rolls and vapes.
Decibel's declining market share and sales reflect its struggle to adapt to the changing consumer preferences towards pre-rolls and vapes.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 85
NEGATIVE IMPACT
Tilray's market share in the Canadian cannabis market has declined to 9.6% in August, with a 20% YoY decline in sales. The shift in consumer preference towards pre-rolls and vapes may continue to impact Tilray negatively.
Tilray's declining market share and sales indicate a negative trend, exacerbated by the shift in consumer preferences away from traditional flower products.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90