Marijuana Business Magazine January 2019

Marijuana Business Magazine | January 2019 8 Canada’s Newly Legal Rec Market O n Oct. 17, Canada became the first major industrialized nation to launch a recreational cannabis market. The country’s decision to legalize marijuana at the federal level created a thriving and competitive market filled with large, sophisticated players—drawing the attention of investors, entre- preneurs and policymakers from the United States and abroad. While the early months of Canada’s recreational cannabis market will be marked by a small number of stores, limited product selection and inevitable cannabis shortages, the country is expected to have a multibillion-dollar marijuana industry within a few years. Here’s a look at the estimated size of Canada’s recreational marijuana market by 2021: By Eli McVey Sources: Marijuana Business Daily, Canadian Parliamentary Budget Office 1.6 million Estimated annual cannabis consumption (in pounds) in Canada by 2021, or 732,000 kilograms. $4.2 billion Estimated retail cannabis sales in Canada by 2021, or CA$5.62 billion. Cannabis bythe Numbers | Data Analysis Estimated number of adult- use cannabis consumers in Canada by 2021. 5.2 million