Statistics Canada reported that cannabis retail sales in March 2024 reached C$428.4 million, marking a 4.9% increase from February’s revised sales of C$408.2 million. February’s initial figure of C$404.7 million was adjusted upward. Compared to March 2023, sales grew by 2.7%.
Despite this increase, the growth rate is notably lower than the 20.3% recorded in August 2023 and reflects a decrease from December’s growth of 9.1%. The lowest annual growth rate since legalization occurred in September 2023, where sales dipped by 0.9%.
In total, cannabis sales in Canada for 2024 are estimated to rise by 4.5% to C$5.39 billion, with a 2.3% increase noted so far in 2025. Factors contributing to this growth include an increase in the number of cannabis retail outlets and lower prices for flower products, which have attracted consumers from the illicit market.
In Ontario, Canada’s most populous province, cannabis sales increased by 6.0% from February and by 7% compared to the same month last year. Alberta, the second-largest province, experienced an 11.4% rise from February and a 6% increase year-over-year. In Quebec, sales rose by 6.1% from February but fell by 19% compared to the previous year. Conversely, British Columbia saw an 8.0% decline from February and a 9% drop year-over-year.
The upcoming sales data for April will be released on June 20, 2024, providing further insights into the trends in the Canadian cannabis market.
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