Canadian Sales Summary
After a very slow start to 2021, March proved to be a strong month. Estimated March Retail revenues came in at $305 million up 78% year-over-year and 19% sequentially from February. Using March sales data, Canada currently has a $3.36 Billion annual run rate slightly higher than the previous peak in January 2021.
In July of 2019, the largest Cannabis companies were Canopy, Organigram, followed by Aphria, which made up 49% of sales. The largest players in the Canadian cannabis space today are Aphria, Canopy Growth, followed by Redecan. These three LPs make up 33% of Canada's total cannabis sales. Canada is seeing smaller players in the space, and the concentration of large LPs is decreasing. Pure Sunfarms, owned by Village Farms (VFF), is a name that has gained significant market share in the Canadian Cannabis space. In December of 2020, VFF was the 10th largest LP by Sales. March of 2021, they are now the 4th largest.
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Aphria, Redecan, and Pure Sunfarms are showing strong YoY growth, with Canopy growth stagnating. Hexo is another LP that has had consistent YoY and MoM growth in the Country.
