Canada’s Cannabis Vape Market Growing
Product categories in the Canadian cannabis industry are still maturing and evolving, and the vape category is showing incredible promise, according to the recent North American Vape Market Q3 2022 study.
The study, commissioned by The Arcview Group and Greentank and developed using data collected by Headset, reveals that sales of both disposables and cartridges continue their positive trajectory.
Incredible growth has been reported in Ontario, boasting total cannabis vape sales of $77.4 million in Q3, up from $63.7 million in 2021, which is an increase of 21.6% year-over-year. Total units sold in the province in Q3 increased by 29.1% over Q3 2021, along with a 75.7% increase in 1g units sold year-over-year, reflecting $50.7 million in total sales for that segment. In addition, disposables increased nearly 30% over 2021. The report also notes a shift towards fruit-forward flavours over the summer.
Prices in Ontario have been declining though, from $39.23 in 2021 to $33.31 in 2022.
Alberta also showed impressive gains, reporting a near 30% increase in total units for the quarter over 2021, bringing total units sold to 1.1 million and total revenue to $37.3 million. Sale of disposables within the province increased by a whopping 208.8% over Q3 2021, while 1g unit sales also rose by close to 70%. And, looking forward, a $3.61 decrease in average unit price over Q3 2021 may serve to entice even more consumers toward the product, fuelling further growth of the category in the province.
Sale of disposables within the province increased by a whopping 208.8%
Continued Growth in BC
Another astounding rise around the popularity of cannabis vapes has been recently experienced in BC where a 239.2% rise in the sale of disposables was reported over Q3 2021—a number that’s up 54% over last quarter. Total sales within the cannabis vape category in BC hit $24.5 million, increasing by 20.8% over Q3 2021. Total units sold also rose by nearly 36% year-over-year to 661,000, up from 487,000 in 2021
Sales in Saskatchewan Rising
Saskatchewan was the only province that reported year-over-year decreases in disposable sales, dropping by 11.3% to a total of $404,000. However, with respect to total units sold, the province experienced an increase of 56.8% over Q3 2021 and a 30% rise in total revenue to $10.9 million.
The vape category only accounted for 4% of total revenue from cannabis sales, whereas in BC vapes accounted for 6% of sales.
Heading deeper into the final quarter of the year in 2022, based on Headset’s data, it’s safe to assume that the cannabis vape market is one that’s still expanding. And, as newer products are introduced to the category, propelled by consumer attitudes toward the use of vapes, it seems that growth of the cannabis vape market is set to continue for some time longer.