Canadian cannabis market continues to grow, with Ontario nowhere near retail store saturation: Brightfield

Growth op

Retail served as the main driver of a 118 per cent increase in Canada’s recreational cannabis market last year, with the much-anticipated rollout of stores in Ontario quickening its pace and Alberta witnessing steady growth. “The opening of retail outlets drove growth in 2020,” notes a new report on Canada’s recreational weed market from Brightfield Group, a consumer insights and market intelligence firm for the CBD and cannabis industries. In February, the Alcohol and Gaming Commission of Ontario (AGCO) reported that it was issuing 30 cannabis retail store authorizations (RSAs) weekly, up from 20 a few months earlier. As of mid-month , AGCO reported it had received more than 1,630 RSA applications and had issued 489 RSAs, with 430 authorized cannabis retail stores open in the province in the province. Newfoundland looks to add more cannabis retail stores, improve delivery times for online ordering New Brunswick weed retail rights no longer on selling block, as Cannabis N.B. model retained Ontario cannabis retail market likely has a year or two at current pace of growth before saturation Ontario led the retail charge, but still has plenty of space for more stores, the Brightfield Group report suggests. “There’s still massive potential for more retail outlets before the province hits saturation with its large population.” Cannabis sales in Alberta — the original weed retail frontrunner — also grew significantly thanks to eschewing limits on the number of private retail stores. Cannabis sales in the province “quickly boomed without a cap on licensing. We expect other large provinces to follow suit as retail continues to expand.” More specifically, a chart in the report shows that Alberta had 493 retail outlets in early 2020 compared to 574 in early 2021, while Ontario had 145 compared to 444, Quebec had 43 compared to 61 and B.C.…

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Source : Canadian cannabis market continues to grow, with Ontario nowhere near retail store saturation: Brightfield

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