Cannabis

Indiva records strong edibles growth

Demand for Indiva Limited’s edible products continues to rise with record gains in December 2020

MORE THAN ONE out of every three edibles sold in the key cannabis markets of B.C., Alberta and Ontario during the month of December was made by local cannabis producer Indiva Limited — a record for the company, who have come to occupy a dominant position in the Canadian edibles market.

Last week, the company circulated data from market data firm Hifyre that showed impressive performances in those provincial markets, where they held more than 40 per cent market share in each.

“Edibles are one of the fastest growing categories in the cannabis market, and Indiva is committed to continuing to leverage the experience and innovation of our licensing partners to bring new edible products to market to support further growth” Niel Marotta

“We are delighted that customers and clients continue to support Indiva’s core edible brands in market, as evidenced by market share gains at the retail level,” Niel Marotta, Indiva’s CEO, stated in a press release. “The improvement in market share is particularly encouraging given the backdrop of new entrants into the category.”

This is the latest in positive reports for the company. The Indiva’s third quarter results, released late last year, reported quarterly revenues of $3.42 million — a 22 per cent increase from the previous quarter.

Story Continues Below

 

A key aspect of this strong performance is the company’s strength in the two major edibles categories of chocolates and gummies, where their Bhang Chocolate and Wana Sour Gummies brands each lead, respectively. To put this into context, according to the company’s data one of every four edibles sold in Canada was one of Indiva’s sour gummies.

“Edibles are one of the fastest growing categories in the cannabis market, and Indiva is committed to continuing to leverage the experience and innovation of our licensing partners to bring new edible products to market to support further growth,” says Marotta.

The company’s positive outlook is also based on last year’s news that they had reached an agreement to supply Shoppers Drug Mart’s medical cannabis market, and preliminary revenues for the month of October in which the comp

any recorded record revenues. Profitability remained elusive, however, with the company reporting another $3.5 million loss overall. But as costs in raw cannabis materials continues to decrease, the company hopes to see improvements in their margins into this year. Kieran Delamont

Recent Posts

London Inc. Weekly

London Inc. Weekly: A summary of regional business news from the past week

7 days ago

Dispatch

Dispatch: A summary of recent business appointments and announcements, plus upcoming events for the week ahead

1 week ago

‘Hello?’ Gen Z’s silence on the phone baffles older workers

Gen Z is quietly redefining phone etiquette, leaving generational gaps at the dial tone

1 week ago

Home of the Week: 1797 Phillbrook Court

1797 Phillbrook Court: $899,900 for a two-storey yellow brick home in one the city’s most coveted family neighbourhoods

1 week ago

Commercial Activity: July 23, 2025

A summary of recent commercial real estate activity in London

1 week ago

The bottom line

For more than two years, the London real estate market – from new builds to resale – has been on…

1 week ago