cannabis sales in canada have experienced significant growth with a 157 increase from may 2020 to may 2023 according to data analytics company headset however the growth rate has been declining over the past three years with sales increasing by 883 between 2020 and 2021 but only by 118 between 2022 and 2023 the growth in sales is primarily driven by an increase in the number of stores rather than growing consumer demand data also shows   store count has grown by around 40 in ontario   average monthly sales per store have dropped by approximately 20 in the past year   flowers has seen its share of total sales decrease by 158 in the past year   preroll products have increased their market share by 235   the number of brands in the canadian market has grown by 369 since 2020   the median total sales per brand have decreased by 70 in the same period indicating increasing competition and concentration in the market   inhalable product prices such as flowers have flattened since the start of 2022 after a period of price compression noninhalable products have seen a 253 price drop influenced by consumer preference for higher thc limits in edible packages per the report see also cannabis is now legal in canada industry insiders discuss what it means for stocks international market meanwhile smith falls canadabased canopy growth corp cgc recently reported a net loss of ca 33 billion for the fiscal year ended march 31 2023 underscoring the struggles within the sector slowing demand intensified competition and pricing pressures are among the factors contributing to the slowdown in sales growth per green market report separately food bank visits in british columbia have increased by 5 since 2019 with 131000 annual visits recorded according to food banks bc customers of bc liquor and cannabis stores have raised nearly 950000 for local food banks during a recent holiday campaign bringing the total raised since april 2020 to over 34 million reported vancouver sun read more canadas top ceo raj grover talks cannabis and future of retail heres how to meet him in person this content was partially produced with the help of ai tools and was reviewed and published by benzinga editors