New data puts size of Canada’s marijuana industry on par with wine

Canadians spent virtually the identical quantity of cash on black-market hashish in 2015 as they did on wine, in response to a brand new estimate by Statistics Canada, indicating the legalized marijuana sector might give the nation’s alcohol industry a run for its cash come legalization in mid-2018.

The nation’s underground hashish market in 2015 was value as a lot as 6.2 billion Canadian dollars ($four.eight billion), or roughly 90% of the size of the CA$7 billion wine market and two-thirds of the nation’s CA$9.2 billion beer market, the nation’s statistics company reported.

Economists have warned alcohol makers that the legalization of marijuana might sap a minimum of CA$160 million out of their industry, and hashish producers are bracing for competitors.

Conclusions from the Statistics Canada report:

  • Canadians consumed a record-high 697.48 kilograms (1,539 kilos) of hashish in 2015, a powerful 47% improve in solely 5 years. (Cannabis consumption at present exceeds 900 kilograms per yr, in accordance with Marijuana Business Daily.)
  • A document 16.29% of Canadians consumed hashish in 2015, a rise from simply 11.86% in 2010.
  • The most prevalent customers of hashish have been within the 18-24 age bracket (38%), adopted by 15-17-year-olds (23%).
To join our weekly Canada marijuana enterprise publication, click on right here.

Categories: Briefs, Canada Marijuana News, Cultivation


Be the first to comment

Leave a Reply

Your email address will not be published.