The CCSI was assessed at C$5.09 per gram this week, down from last week’s C$5.14 per gram. This week’s price equates to US$1,807 per pound at the current exchange rate.
This week we continue to examine data published in the Ontario Cannabis Store’s (OCS) quarterly Cannabis Insights report, which covers the period from October through December 2021. This report focuses on the proportion of sales dedicated to cannabis 1.0 and 2.0 products in Ontario. As a reminder, cannabis 1.0 refers to the legalization of combustible cannabis flower, cannabis oils, and cannabis seeds in October 2018. A year later cannabis 2.0 began, making available to consumers derivative products such as vapes, edibles, beverages, concentrates, and topicals. The data aggregated in today’s CCSI report reviews a series of OCS quarterly reports to compile a complete view of trends following the introduction of cannabis 2.0 products.
Now that we have over two years of data, we can see cannabis 2.0 products starting to make up a notable share of sales. Total cannabis sales in Ontario have been accelerating with the rapid build-out of brick-and-mortar stores. From December 2020 to December 2021, cannabis 2.0 product sales have jumped from making up 26% of total sales to over 30%.
Diving deeper into the cannabis sales mix, we see that most consumers prefer the traditional smokeable or inhalable products (dry flower or vapes, respectively), with all other derivative products making up very small proportions of total sales. That said, modest increases in spending on edibles and concentrates can be seen in the chart below, which compares the sales mix from the end of 2020 and 2021.
See previous weekly updates from Cannabis Benchmarks:
- The ongoing battle between legal and illegal cannabis sales in Ontario
- How legal cannabis sales in Canada have impacted alcohol sales
- Understanding the current cannabis store county in Canada right now
- Canadian cannabis market fundamentals right now
- How the growth of outdoor cannabis cultivation impacts Canadian cannabis
- Canadian cannabis retail store count right now
- Flattening cannabis sales part of a common trend?
- Cannabis sales and store insights from BC
- Cannabis store count in Alberta right now
- A look at monthly cannabis sales in Canada
- How to compare annual cumulative cannabis sales in Canada
- Canadian cannabis consumer and patient trends right now
- Daily cannabis spend per consumer in BC now
- Canadian retail store counts right now
- A look at average daily cannabis sales in Canada
- Future growth of cannabis retail in Alberta
- Retail store counts in Canada right now
- The mix of cannabis products in Ontario right now
- How to understand legal and illicit cannabis sales
- Comparing legal and illicit cannabis purchases right now
- A look at cannabis retail store counts in Canada
- A look at daily cannabis retail sales in Canada
- Legacy and legal cannabis sales three years after legalization?
- How to understand cannabis’ impact on alcohol sales in Canada
- Understanding cannabis retail store growth in Canada
- A look at average monthly spend per cannabis consumer
- A look at processing licenses issued by Health Canada
- A look at cultivation licenses issued by Health Canada
- Understanding medical versus recreational sales right now
- A look at daily cannabis sales by Province
- How to view dry cannabis sales across Canada
- A look at percentage of legal versus illicit cannabis sales
- A look at the pace of growth for cannabis retail
- A look at monthly cannabis sales in Ontario
- What is the optimal number of cannabis stores in Canada?
- How to compare daily cannabis retail sales by Province
- Understanding the impact of cannabis on alcohol sales in Canada