Canada Celebrates Third Legalization Anniversary
by Gabrielle Caravetta
Credit: Frank Holland, cnbc.com
Canadians celebrated their third anniversary of the legalization of marijuana last month. In this country the majority (an entire 95%) of marijuana sales are recreational. The overall purpose of cannabis use is for leisurely purposes.
Cannabis is projected to be a $5.5 billion dollar market for Canada in 2022:
- Flower 53%
- Pre-roll 20%
- Vape 13%
- Edible 5%
In consideration of new consumers, production has released a very wide variety of different products to accommodate all of these different people. Many consumers make cannabis a part of their lifestyle not by smoking it, but by ingesting it in the form of a drink or a snack. Companies want to accommodate that.
While new goodies are being whipped up by producers, Canadian cannabis companies really focus their attention on developing new strains to bring to the table, even researching in labs to optimize the amount of cannabis produced by the plant. A never-before-smoked cannabis strain is what cannabis consumers jump up and down for!!!
Canada says, “cheers” to another year and looks on up as they soon ring in their fourth.