New Brunswickers prefer more “convenient” cannabis products as the market continues to shift to products like vape pens, concentrates, and pre-rolls, especially infused pre-rolls, according to a new annual report from Cannabis NB.

Sales of dried flower still represented just over half (50.6%) of sales by category, down from 52.5% in 2022-2023, with concentrates and extracts at 35.2%, up from 33.5% in the previous year. Sales of edibles were the third largest product category, with 7.4% of sales by category. 

The newest annual figures from the provincial cannabis agency Cannabis NB show $93.8 million in total sales for the year ended March 31, 2024, a 12.4% increase from the previous year. From this, the provincial agency generated $22.7 million in net income, a 24% increase from the previous year. 

While dried cannabis sales still increased year-over-year, whole flower sales in the Picture Province were just over 30% of overall sales, while infused pre-rolls now represent 15% of total concentrate sales.

In the most recent fiscal year, Cannabis NB brought in eight of its planned nine private retail cannabis locations, part of a commitment to diversify the retail market and bring stores into more remote regions of the province. Total sales in the private retail channel were more than $2.8 million.

New Brunswick also has 25 Cannabis NB locations in the province and seven approved cannabis farmgate locations. The provincial cannabis agency also supports the local cannabis industry by working with local producers who currently contribute 21.5% of total sales. Cannabis NB says they expect this number to continue to grow as more locally-made products become available. 

There were 279 products from New Brunswick producers available in the province as of March 31, 2024 (out of 1,927 from across Canada). Whole flower was the largest category, with 58 SKUs, followed by cannabis accessories at 46 and concentrates at 42. The province carried 19 clone SKUs in 2023-2024, the most of any province. Ontario is the only province that eclipses New Brunswick producers in terms of available SKUs (848).

Cannabis NB was the first ever cannabis board in Canada to host a consumer-facing education event, the New Brunswick Cannabis Expo, with over 1,400 attendees. The Cannabis Expo is a cannabis education trade show that’s expertly crafted for 19+ New Brunswickers who consume cannabis.

“For us, delivering for the people of New Brunswick means generating revenue to support the province, while consistently prioritizing safety, responsibility, and top customer service,” writes Cannabis NB president and CEO Lori Stickles in the annual report.

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