Canada’s ultra-competitive legal marijuana industry is drawing fewer new entrants than ever as existing businesses continue to exit.
New federal licenses have dropped to a record low, while the number of revoked or expired licenses doubled over the course of one year, according to the latest federal data.
The figures on new, existing and inactivated licenses were updated Monday.
Health Canada licensed only four new sites in September 2023, down from 11 in August.
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That’s a significant drop from 2022, when 12 and 22 new sites were licensed in August and September, respectively.
Many of Canada’s large licensed producers (LPs) are facing challenging business prospects amid:
Those difficult circumstances appear to be steering would-be investors and entrepreneurs away from entering the market, the data suggests,
Read full article on Marijuana Business Daily
