The Government of Canada recently released newly updated sales and inventory figures for the cannabis industry, highlighting changing trends as the industry continues to evolve. The newest figures are up-to-date through September 2024.

Total medical and non-medical sales in packaged units were up 4% from September 2023. The percentage of those units that were dried flower decreased by one percentage point compared to the previous reporting period to June 2024 (51% and 52%, respectively), while extracts were up two percentage points (22% to 24%) and edibles were down one point (26% to 25%).

Total package types by SKU with provincial distributors and retailers also decreased for flower, from 47% to 46%, but stayed the same for edibles and extracts. 

Approved indoor and outdoor licensed cultivation areas and processing areas increased from the previous reporting period up to June 2024.

Dried cannabis packaged inventory with federally-licensed producers and with provincial distributors and retailers continues to remain relatively level, while dried cannabis packaged sales continue to show seasonal fluctuation, with a spike in sales in the summer and a dip in the winter. 

Unpackaged inventory of dried cannabis with licensed producers continued a downward trend that has been ongoing since October 2023, reaching a low not seen since September 2020. 

Packaged inventory of edible cannabis products with provincial distributors and retailers continued a slow, long-term increase, although figures in September 2024 were down slightly from an industry high set in May 2024.

Cannabis extracts packaged inventory has remained relatively steady in 2024, up slightly year-over-year, with provincial distributors and retailers, and with federal licence holders. 

Cannabis extracts packaged sales in the non-medical market were down in September 2024 compared to previous months, and down year-over-year compared to September 2023. However, these figures were up year-over-year for August 2024, showing slow, continued growth in this sector. 

Cannabis topicals packaged inventory in the provinces reached a new high in August 2024, declining somewhat in September but still up significantly from September 2023. Sales of cannabis topicals in the medical stream reached a record high in September 2024 while non-medical sales showed year-over-year declines. 

Packaged units of cannabis plants for sale in the provincial markets spiked in April, May, and June 2024, reaching an industry-high in May of 7,283.

Packaged inventory of cannabis seeds with licensed producers and with the provinces, as well as sales, showed a downward trend in 2024, down considerably from record highs in early 2023.