In Constellation Brands’ quarterly earnings call on January 9, the company estimated that Canopy Growth (WEED) (CGC) will have a market share in excess of 30% in Canada. In the following chart, you can see that Canopy Growth’s market share was at 36% based on the supply agreements signed by the company in different Canadian provinces. The remaining market share will be held by companies (HMMJ) including Tilray (TLRY), Aurora Cannabis (ACB), and Aphria (APHA).
There would be unfinished business if Constellation Brands finished its earning call without discussing the infused beverage introduction in Canada. When asked by an analyst on an approximate introduction date for the infused beverage in Canada, Constellation Brands’ president and COO, Bill Newlands, said, “I’ll remind everyone, beverages are not currently available in Canada. We expect and Canopy expects that, that will change later this calendar year, but an exact date of that has not been defined yet.”
Selling a cannabis-infused beverage isn’t legal in Canada. As regulators work out the details on cannabis edibles, companies will roll out their branded beverage products.
The government is expected to legalize cannabis edibles in October 2019 or sooner.
For more updates on the cannabis industry, visit Market Realist’s Healthcare page.