Canadian Cannabis Flower Power: Who Are The Top Players? What Happened In Q2 2023?

Zuanic & Associates' recent report unveils the movers and shakers in the flower segment, shedding light on their market shares, pricing strategies and fortunes. The second quarter of 2023 saw some intriguing shifts in the sector.

When it comes to market leaders in the flower segment, the report identifies key players such as Tilray (including HEXO) TLRY in the first place, and Village Farms International, Inc. VFF in second, followed by Organigram OGI, BZAM (including TGOD), Cronos CRON, and Auxly XLY.

Notably, only BZAM and VFF managed to maintain or exceed average market prices, while the rest fell below the average.

Pablo Zuanic, from Zuanic & Associates will take the stage as a featured speaker at the upcoming Benzinga Cannabis Capital Conference in Chicago on September 27 and 28. He will surely share some of his savvy advice.

The Battle For The Top: TLRY Vs. VFF

Tilray, a prominent player, commanded a 14.0% share of the flower market. However, it's noteworthy that their average price of $4.23 per gram was a significant 20% below the market average. The report indicates that a whopping 58% of Tilray's flower sales hailed from Aphria legacy brands, while HEXO brands contributed 30%, including 10% from Original Stash, now boasting an above-average price of $4.49.

The acquired HEXO brands will undoubtedly shape the future trajectory for Tilray's flower share, especially as their legacy share dwindled from 4.2% to 1.7%. The Aphria portfolio encompasses a range of brands, with Good Supply leading the pack with an 82% share at an average retail price of $4.00 per gram.

Village Farms International, standing at a strong 13.1% market share, proved that quality comes at a price. Their average price of $5.28 per gram outstripped the market average.

The company's prowess was amplified by the inclusion of a Quebec deal and the newly launched Original Fraser Valley. This dynamic approach has helped Village Farms maintain a foothold among the segment leaders.

The Rest Of The Pack

While other contenders like Organigram, BZAM (including TGOD), Cronos, and Auxly vie for prominence, BZAM and VFF stand out for pricing strategies that meet or exceed market averages.

These insights not only offer a glimpse into the competitive nature of the flower market but also illuminate the intricate dance between product quality and consumer appeal.

Meet Pablo Zuanic in person at the upcoming Benzinga Cannabis Capital Conference, the place where deals get done, which is returning to Chicago this September 27-28 for its 17th edition. Get your tickets today before prices increase and secure a spot at the epicenter of cannabis investment and branding.

Photo: Courtesy of Franklin BioScience with Fluence Bioengineering LED Grow Lights.