Canada's wholesale cannabis industry is experiencing a noticeable slowdown in activity, signaling a shift from the explosive growth seen in the early years following legalization. According to the latest data from Statistics Canada, wholesale sales, prices, and volumes for cannabis merchant wholesalers dropped significantly in April 2025, continuing a downward trend that began after the market's record highs in 2024.
In April 2025, total wholesale cannabis sales fell to $508 million, a sharp drop from $541 million the previous month and $544 million in April 2024. The highest sales figures were recorded in February and August of 2024, followed by several consecutive months of decline. The wholesale cannabis market dropped to $247 million in April 2025, down from $260.8 million in March and $255.3 million in April the previous year.
Inventories held by wholesale cannabis also declined slightly to $276.8 million, though inventory levels have generally remained steady since early 2023 with expected month-to-month fluctuations.
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