Cannabis Edible Products Sales Exceed $ 100 Million in Canada

The growth dynamics of the market for food products, which contain therapeutically active elements of hemp, will increase over time both in Canada and throughout North America. This also applies to the market for various hemp drinks, which is expected to grow rapidly in the near future. 

According to statistics released by Statistics Canada, Canadian citizens purchased C $ 109 million ($ 87 million) worth of cannabis leaves and flowers in 2020, when they became widely available throughout the country.

Due to the fact that stocks of hemp raw materials continue to increase, and the choice is significantly improving and expanding, experts predict a significant growth in the market for edible products, which include hemp leaves and inflorescences.

Despite the fact that in 2020 the sales of edible products in the "country of the maple leaf" amounted to only 4.2% of the total market (about 2.6 billion Canadian dollars), the average growth of this segment has exceeded throughout the entire year average growth across the entire industry. In particular, food sales and their total market share by quarters were: 

• 12.7 million Canadian dollars in the first quarter (2.6% - of the market);

• C $ 22.5 million in the second quarter (3.9%);

• C $ 31.9 million in the third quarter (4.3%);

• C $ 42.2 million in Q4 (5%).

Objectively, it should be noted that Statistics Canada data show that sales of food products containing therapeutically active elements of cannabis lagged behind the dynamics of sales growth in such a market segment as extracts (extracts and concentrates in 2020 amounted to 12.3% of the total sales volume). At the same time, it should be noted that the bulk of sales in the Canadian market comes from dried cannabis leaves and inflorescences - in 2020 it accounted for 76% of all sales, but this market segment gradually decreased slightly throughout 2020.

Therapeutically Active Cannabis Market in Canada by Type of Products Sold

Commentary of the specialists of the Association "Ukrainian technical hemp"

The growth dynamics of the market for food products, which contain therapeutically active elements of hemp, will increase over time both in Canada and throughout North America. This also applies to the market for various hemp drinks, which is expected to grow rapidly in the near future. The hemp beverage category currently holds a tiny market share due to the lack of a wide selection of available offerings.