While Canada’s House of Commons is hashing out the details of legalization, stakeholders have been trying to determine how many recreational cannabis consumers will participate in the legal market and now there’s a new report to help them.
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Since Justin Trudeau’s election, the Canadian cannabis space has seen significant growth both in public and private sectors. The industry is gearing up for its entry into the legal recreational cannabis market set to open up by July 1, 2018.
A study by Deloitte says legal marijuana in Canada will become a $22.6 billion industry, surpassing all alcoholic beverages combined. The soon-to-be-released, 11-page report, titled “Recreational Marijuana: Insights and Opportunities,” says fulfilling the demand for recreational pot will require 600,000 kilograms annually.