New York, February 08, 2024 - PRISM MarketView - Innovative global cannabinoid company, Cronos Group’s (Nasdaq: CRON), Spinach brand has emerged as the top contender in Canada’s burgeoning cannabis market, securing the coveted position of the number one flower brand in the country. Spinach closed 2023 as the number one ranked flower brand in Canada with a 6.9% market share in the fourth quarter. Spinach flower products have resonated strongly with consumers, and were the best-selling flower brand in Canada in 2023.
Cronos’ Spinach® Brand Ends 2023 as the Number One Flower Brand in Canada1
TORONTO, Jan. 25, 2024 (GLOBE NEWSWIRE) -- Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) (“Cronos” or the “Company”), 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%1 market share in the fourth quarter. Spinach® flower products have resonated strongly with consumers, leading to a significant increase in its ranking from the fourth2 best-selling flower brand in 2022, to become the best-selli
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In 2023, the Spinach team successfully launched six new flower SKUs and seven new pre-roll SKUs. The Spinach Fully Charged Atomic GMO-infused pre-roll won “Best Pre-Roll” at the 2023 Grow Up Awards in October. The Spinach brand was also the best-selling edible brand in Canada with its SOURZ by Spinach® and Spinach FEELZ™ gummies.
Mike Gorenstein, Chairman, President and CEO, Cronos commented on 2023, saying the year was one of “incredible growth” for Cronos, in which the company achieved strong market share in the ever-popular flower category in Canada, Israel, and Germany.
“With leadership positions in both the flower and edibles categories, and as the second best-selling brand overall in the Canadian cannabis industry1, 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,” said Mr. Gorenstein.
The success of Spinach can be attributed to several factors:
Consumer Appeal: Spinach’s flower products have struck a chord with consumers, experiencing a remarkable surge in popularity and sales.
Innovation: Cronos, known for its innovative approach, has continuously refined the Spinach brand, ensuring quality and consistency, which resonates well with consumers.
Market Growth: The cannabis market in Canada has been expanding rapidly, presenting ample opportunities for brands like Spinach to thrive.
Strategic Expansion: Spinach’s success isn’t limited to Canada alone; it has also gained traction in international markets like Israel, further solidifying its position as a global frontrunner.
About Cronos Group Inc.
Cronos is an innovative global cannabinoid company committed to building disruptive intellectual property by advancing cannabis research, technology and product development. With a passion to responsibly elevate the consumer experience, Cronos is building an iconic brand portfolio. Cronos’ diverse international brand portfolio includes Spinach®, PEACE NATURALS® and Lord Jones®. For more information about Cronos and its brands, please visit: thecronosgroup.com.
PRISM MarketView does not provide investment advice.
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