(Globe Newswire) Toronto — Cronos Group Inc., an innovative global cannabinoid company, today announced that its brand, Spinach®, closed 2023 as the number one ranked flower brand in Canada with a 6.9 per cent market share in the fourth quarter. Spinach® flower products have resonated strongly with consumers, leading to a significant increase in its ranking from the fourth best-selling flower brand in 2022, to become the best-selling flower brand in Canada in 2023.
Capturing the leading position in flower rounds out a strong year of growth and innovation for the Spinach® product portfolio, which is ranked as the second best-selling cannabis brand in Canada across all categories as of December 2023. In the fourth quarter, Spinach® products held a number 1 position in the flower and edibles categories, and a top-10 ranking in the pre-rolls and vape categories.
In 2023, the Spinach® team successfully launched six new flower SKUs and seven new pre-roll SKUs. Less than a year after its launch in market, the Spinach® Fully Charged Atomic GMO-infused pre-roll won “Best Pre-Roll” at the 2023 Grow Up Awards in October. The Spinach® brand’s 2023 successes were also highlighted by becoming the best-selling edible brand in Canada with its widely popular SOURZ by Spinach® and Spinach FEELZ™ gummies.
“We’re thrilled to end 2023 by demonstrating our strong capabilities to win in flower, the largest product category in the global cannabis market,” said Jeff Jacobson, chief growth officer, Cronos. “We are proud of the hard work our team has put into expanding and refining our flower portfolio, which consistently delivers on consumer expectations and has built Cronos and its brands awareness in Canada and internationally. We thank our Spinach® consumers for continuing to choose our flower products with enthusiasm, and we’re excited to continue developing products consumers will love in 2024.”
Cronos’ sophisticated breeding program and unique portfolio of genetics has helped the company win in the highly competitive Canadian market, as well as expand Cronos’ international footprint with distribution to the growing markets in Germany and Australia.
“2023 was an incredible year of growth for Cronos and achieving strong market share in the ever-popular flower category in Canada, Israel, and Germany,” said Mike Gorenstein, chairman, president and CEO, Cronos. “With leadership positions in both the flower and edibles categories, and as the second best-selling brand overall in the Canadian cannabis industry, we are especially proud that we’re shipping our high-quality, best-selling borderless products to emerging international markets. We’re thrilled to continue our growth trajectory globally after recently shipping our cannabis flower to Australia’s medicinal market and look forward to another tremendous year in 2024.”