According to Deloitte, who is an industry-leading consulting, tax, audit, and advisory services provider, in 4 days when legal recreational Cannabis sales begin in Canada, roughly 40% of the adult population "might" try cannabis.
These final statistics were based upon the results of a survey which found that 22% of Canadian adults utilize cannabis on occasion while another 17% that don't already consume cannabis stated that they might once it is legal.
Utilizing these predictions, Deloitte was able to estimate what the base retail cannabis market could be in Canada. They used this percentage total along with, population statistics and numbers from the market in the state of Colorado to determine that the base market could be worth $8.7 billion.
That is not including the many different ancillary services that cater to the sector. If you include all of that as well, Deloitte projects that the total base market could be worth $22.6 billion.
Some have urged people to err on the side of caution when thinking about these numbers. This is because the market in Canada, where cannabis is legal across the country, will differ drastically from a single state in a country where cannabis is still widely illegal.
If you have paid attention to the cannabis community in Canada, however, you are probably like me and wondering how thousands of consumers show up for 420 festivals across the country but only a tiny handful of the adult population are consumers.
If you were to ask me, I would project that there is a much larger population of adult cannabis consumers in Canada than what this report projects.
Nonetheless, we are just four days away from congratulating Canada on becoming the world's first G7 Nation to legalize cannabis for retail purposes. Once legalization takes effect in 4 days individuals living in many different provinces will be able to grow their own cannabis at home.
In Alberta, British Columbia, New Brunswick, the Northwest Territories, Nova Scotia, Ontario, Prince Edward Island, Saskatchewan, and the Yukon adults will be allowed to cultivate up to 4 cannabis plants per household legally. After all, it couldn't actually be called legalization if adults weren't able to grow a safe, natural plant at home.
Say it with me, only 4 more days. Only 4 more days until Canada makes history and adults in the country no longer have to live in fear for enjoying the many benefits that cannabis has to offer.Posted: Saturday, October 13th, 10:00am 8 days ago
Ashley is a freelance cannabis writer and the co-owner of CannaLance. Her passion for sharing education and truth surrounding cannabis stems from a personal loss. Ashley has always had an elevated relationship with cannabis but it wasn't until 2015 that she turned that passion and relationship into a career as a cannabis writer.