Beverages are continuing to perform successfully as a cannabis product category in both the US and Canada with distinct trends in both countries.

Since the launch of Beverages in Canada around January 2020, market share of this category has seen significant growth until reaching a peak of 2.1% of the total Canadian market in December of 2021. With a longer history of Beverages in the US, market share has experienced slower, more consistent growth in the US over the same time period.

The count of Beverage products has grown faster in California than any other US market. By the end of 2021, California had doubled their product offerings to just over 530 distinct cannabis Beverage products.

Segment shares are very different between the US and Canada. In the US, the largest Beverage segment is the Drops, Mixes, Elixirs, and Syrups, which made up 27.7% of total Beverage sales from January 2020 - January 2022. In Canada, Carbonated Beverages are the biggest segment, which made up 51.5% of sales during the same period.

As the Beverage segment matures in Canada, prices seem to be stabilizing for the products. In January 2020, Canadian Beverage products averaged at $16.21 per product. By January 2021, the AIP for Beverages in Canada dropped 146% to $6.58 per product. The AIP of Beverages in Canada has been stable since July 2020, hovering around $6 per product.

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