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Some of Canada’s largest cannabis companies are losing market share after a tough year, according to data analyzed by ATB Capital Markets.

Aurora had 18.2% of overall market share in Q1 of 2020, which fell to just 7.4% in Q1 of 2021, reports MJ Biz. Canopy wasn’t far behind, falling from 15.5% to 11.6%. Organigram fell from 8.6% to 4.3%, and Aphria held onto its 14.9% share of the market. Once its Tilray deal is approved, the combined company could have about 19% of the overall market.

Now what?

We’re already witnessing the pivot strategies: 

  • Canopy is banking on bevvies and top brand acquisitions (Ace Valley, Supreme, others?),
  • Organigram plans to focus on finished products with its British American Tobacco investment, and 
  • Just about everyone is assuring investors that opportunity awaits once the US goes legal.

The winners

ATB’s findings reflect the stock index at New Cannabis Ventures — that smaller companies are gaining market share. 

HEXO, Redecan, Village Farms, Indiva and Auxly all saw market share gains in 2020, boosted by M&A, strong flower sales and/or success in the cannabis 2.0 category.

“We grew our 2.0 market share with a focus on quality, safety and efficacy,” CEO Hugo Alves told MJ Biz, “and are taking that same approach into branded 1.0 products in 2021 with an eye to continued growth.”

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