We don’t often examine so many cannabis categories in a single report, but some interesting trends emerge when Capsule, Tincture & Sublingual, and Oil categories are compared in the US and Canada. Oils, not to be confused with cannabis Concentrates or cooking oils, are comparable to how we categorize Tincture products in the US. Tincture & Sublingual products in the US are largely formulated with cannabis extract infused into water or alcohol. Since Canadian operators are unable to infuse alcohol products, we will examine the Oil category for Canada and Tincture & Sublinguals in the US. Throughout the report, we will explore market share through time for these categories, average item price through time, which package sizes consumers are purchasing in the US and Canada, and we will also highlight the brands leading the market.
When we look at the combined market share for the US and Canada, we can see that the Capsules, Tinctures & Sublinguals, and Oil categories (CTSO), are stabilizing at just below the 1% mark. When we examine market share of these categories in individual states and provinces, we see that Capsules perform well in Canadian provinces with Manitoba, British Columbia, Ontario, Saskatchewan, and Alberta in the lead for market share in 2021. Average item prices for all three categories have declined in the past two years. For example, the average item price of Oil started January 2020 at $42.83 per unit but dropped 20% by December 2021 to $34.78 per unit. When we compare package sizes of these categories between the US and Canada, we notice that the trends are quite different between the two countries. For example, when we look at Capsules, the 0mg-5mg package size is the most popular in Canada with 35.4% unit volume. In the US on the other hand, the most popular package size of Capsules is 1000mg of THC with 32.7% of total unit volume.
Given the potential for maturation and innovation within established and emerging cannabis markets, there is plenty of opportunity for these categories to continue to grow and develop.
Whether that includes new products or advanced formulations, or brands that speak to the ever-changing cannabis consumer, we’re excited to see what is to come for these cannabis categories. If you need help assessing the opportunities in these or other cannabis categories, Headset tools equip you with everything you need. Keep track of category performance with sales dashboards, understand the consumer landscape with demographic insights, and target the right customers with marketing tools. Sign up for a demo to learn how you can keep an eye on opportunities in the cannabis industry.
Show Notes:
Cannabis Capsules, Tinctures & Sublinguals, and Oils: A look at the data
https://www.headset.io/industry-reports/cannabis-capsules-tinctures-sublinguals-and-oils-a-look-at-the-data
Host:
Josh Kincaid, Capital Markets Analyst & host of your cannabis business podcast.
https://www.linkedin.com/in/joshkincaid/
Episode 883 The #TalkingHedge…
Your Cannabis Business Podcast.
Covering cannabis products, reviews, business news, interviews, investments, events, and more.
https://www.theTalkingHedgepodcast.com
Music Info:
Song: Dark Trap Beats Hard Rap Instrumental | Gang | 2018Artist: LuxrayBeats
Keywords:
Hemp News, Weed News, Cannabis News, Marijuana News, Cannabis Business, Marijuana Business, Cannabis Industry News, Marijuana Industry News, Weed News 420, Talking Hedge Podcast, Cannabis Podcast, Marijuana Podcast, Business Podcast, CBD podcast, THC podcast, Cannabis Pitch Deck, Marijuana Pitch Deck, Marijuana Investment Deck, Cannabis Investment Deck, Cannabis Compliance, Cannabis Data, Cannabis Banking, Cannabis Investment, Pot Stocks, Cannabis Stocks, Weed Stocks, Marijuana Stocks, Cannabis Data, Marijuana Data, Cannabis Analytics, Marijuana Analytics, Cannabis Sales Data, Marijuana Sales Data
Josh is not an investment adviser. The Talking Hedge is long gold and silver. Listeners should always speak to their personal financial advisers. This is only entertainment.
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