Cannabis Canada: Rbc Analyst Tempers Outlook on Vape and Edible Sales
Vapes, edibles expected to see sales hit $250M in first year of availability: analyst
Expectations ahead of the launch of Cannabis 2.0 products – those vapes and edibles that consumers were eagerly awaiting – were certainly lofty, so it’s no surprise that they are now coming back down to reality. RBC Capital Markets cannabis analyst Douglas Miehm said in a report to clients Tuesday he expects sales of vapes and edibles in Canada to reach about $250 million this year amid a lag in new cannabis retail openings across the country. Sales of vapes and edibles in Canada should grow to about $1.5 billion by 2022, still well below earlier projections. The RBC forecast is also well below analyst consensus figures that suggest total revenue from Cannabis 2.0 products for the top seven Canadian cannabis companies will reach $608 million.
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