Cannabis Spending in Canada Exceeded $2 Billion in 2020
It’s no surprise that Canada has been killing it when it comes to cannabis spending in their legal, nation-wide market. It’s also common knowledge that, despite the hit the global economy took in 2020, cannabis is one of the only markets that not only survived, but thrived. But it’s still shocking to see just how much money Canadians spent on cannabis in 2020. And yes, we are talking about flower, not the entire cannabis industry.
According to a quarterly, retail commodity survey from Statistics Canada, Canadians bought $2.01 billion worth of dried cannabis flower last year. Flower definitely appears to be the preferred consumption method for Canadians, as it made up more than three-quarters of all sales from cannabis spending last year.
This high-grossing category includes pre-rolls, and specifically, the fourth quarter saw nearly double the amount sold in 2019, indicating that cooped-up Canadians were turning to flower as a way to self-medicate and recreate during the pandemic. A total of $614.4 million in cannabis flower was sold during the first quarter.
Behind flower, the next category of cannabis consumption spending was the extracts and concentrates category, which brought in $323.9