Statistics Canada reports that cannabis sales in 2020 more than doubled over the year before

Canadians, StatsCan revealed, bought $2.62 billion worth of legal recreational cannabis products in 2020

cannabis-canada-sales

Photo by Marvin Samuel Tolentino Pineda/iStock/Getty Images Plus.

0

Statistics Canada has released its year-end sales figures, and it turns out that Canadians really love their legal weed.

“Marking the second full year of legal cannabis sales, sales at cannabis stores more than doubled (+120.5%) in 2020 on higher demand,” the agency reported last Friday (February 19). “Prices faced downward pressure as cannabis companies competed with the illicit market, coupled with increased competition as more companies entered the market.”

Canadians, StatsCan revealed, bought $2.62 billion worth of legal recreational cannabis products in 2020. As mentioned above, that’s more than double the amount they purchased in 2019.

Despite the challenges presented by COVID-19, the Canadian cannabis-retail sector boomed in 2020. By the end of the year, roughly 1,400 licensed cannabis were stores operating in the country. That’s up from about 760 shops at the end of the previous year.

Broken down by province, Ontario led the country with $727.5 million in sales last year. Alberta followed with $573 million cannabis products sold.

Statistics Canada estimates that legal sales of recreational cannabis overtook illicit sales for the first time during the third quarter of 2020.

Statistics Canada’s monthly cannabis sales data for 2020 are available here. You can also find more info on the StatsCan cannabis hub.

The agency will release retail trade figures for January 2021 on March 19.

Leave your opinion for the editor...We read everything!

Your email address will not be published. Required fields are marked *