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Canada Leads the Way on Global Cannabis Legalization

Part of the Cannabis Intelligence Briefing Series 

Released by Arcview Market Research and BDS Analytics, the Canada Leads the Way on Global Cannabis Legalization report is the first to provide detailed provincial-level forecasts of the Canadian market showing the expected impact of the varying regulatory regimes being adopted by provinces.

The new report states that while Alberta has just 12 percent of Canada’s population, it was among the provinces best ready for the October 17, 2018 launch of adult-use sales. As a result, the province’s 2018 sales were 38 percent of national sales.

Among the other key findings in the report:

  • Spending on adult-use cannabis is forecast to grow from$112.5 million in the partial year of 2018 to almost $4.8 billion by 2024.
  • After four years of growth at a 120% CAGR from 2014, medical cannabis spending will decline at a-3% CAGR, from $456.6 million in 2018 to $381.4 million in 2024.
  • On October 17, 2018, the *Canadian legal cannabis market* grew from 359,292 medical patients to roughly *29 million adults* - each of which became a prospective cannabis consumer.
  • The limits on edibles and concentrates are expected to be loosened in October of this year but will substantially crimp Canadian market growth this year. Those categories have been the key drivers of market growth in legal US states.
  • On the other hand, by defining “adults” as those over 18-years-of-age (19 in some provinces) rather than 21 as in all US states, Canada has given itself a much better chance of reaching a key policy goal of legalization: minimizing the illicit market.

The 39-page report is available for $297 or as part of the Cannabis Intelligence Briefing Series subscription service from Arcview Market Research and BDS Analytics for $1,975.

 


This report was sponsored by PRØHBTD.
With a mission to lead cannabis from the black market to the supermarket, PRØHBTD creates and markets lifestyle and wellness brands to global audiences, overturning the taboos and stereotypes of the status quo cannabis vernacular and continually pushing it toward the mainstream.



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