Projections for the Canadian cannabis markets (medical & recreational) are numerous and vary… but the one thing they all agree on is that the markets will continue to rise… substantially! In a report, Cannabis Business Plans describes the overall picture as follows: “Canadian cannabis market has been steadily growing. The country has seen an average of a 10 percent increase each month in the number of Canadian patients signed up to receive medical cannabis. The sale of dried cannabis has grown steadily at 6 percent a month, and the sale of cannabis oil has been growing by 16 percent a month. In 2017, about 4.9 million Canadians aged 15 to 64 spent an estimated $5.7 billion on cannabis for medical and non-medical purposes. This was equivalent to around $1,200 per cannabis consumer. In 2018, Canadians spent $1.6 billion on legal cannabis, more than double the amount that was spent on solely medical cannabis in 2017, according to a new report “The State of Legal Marijuana Market”, released by Arcview Market Research and BDS Analytics. Active companies in the industry making moves to ready that include: Choom(TM) Holdings Inc. (OTCQB: CHOOF) (CSE: CHOO), Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB), Fire & Flower Holdings Corp. (TSX-V: FAF) (OTCPK: FFLWF), National Access Cannabis Corp. (TSX-V: META) (OTCPK: NACNF), Tilray, Inc. (NASDAQ: TLRY).
The cannabis marketplace is growing in every way every day. More dispensaries, more acres under cultivation, more products being ‘infused’, more mergers and acquisitions and more and more news. Every day more articles and new revenue projection are released opining on what has happened, what is happening and what may happen. Perusing all this avalanche of info one common thread is obvious. The market will rise in 2019. There will be more product, more revenues, more infrastructure, more projections and more news. On such projection was made by Arcview Market Research, and was commented upon by various industry publications. One such summary said the following: “Global Marijuana Sales to Grow 38% to $16.9 Billion in 2019 Worldwide consumer cannabis spending should pick up big-time this year (2019) (in 20018) Canada had become the first industrialized country in the world to give the green light to recreational weed, paving the way for billions of dollars in legitimate annual sales, and pulling cannabis out of the shadows and into the spotlight as a valid business mode. We also witnessed plenty of history made in the U.S., too. In December, President Trump signed the farm bill into law, legalizing hemp and hemp-based cannabidiol products throughout the country. Roughly two-thirds of all states have now legalized medical cannabis, with 10 of those states also allowing adult consumption. Active companies in the industry making moves to ready that include: Choom(TM) Holdings Inc. (CSE:CHOO) (OTCQB:CHOOF), Fire & Flower Holdings Corp. (TSX-V: FAF) (OTCPK: FFLWF), National Access Cannabis Corp. (TSX-V: META.V) (OTCPK: NACNF), Green Growth Brands Inc. (CSE: GGB) (OTCQB: GGBXF), MedMen Enterprises Inc. (CSE: MMEN.CN) (OTCQX: MMNFF).
The cannabis industry is seen by professionals as one of the most exciting fields to participate in, with many companies attracting some of the brightest industry experts to join them. Agraflora Organics International (CSE:AGRA) (OTC:PUFXF), National Access Cannabis Corp (CSE:META) (OTC:NACNF), CBD Unlimited, Inc (CSE:EDXC) (OTC:EDXC), FSD Pharma Inc (CSE:HUGE) (OTC:FSDDF) and Chemistree Technology Inc (OTC:CHMJF) (CSE:CHM) have all been working hard to sign on cannabis experts in an effort to gain a competitive advantage over their competition.
There are things one can buy online and things some just don’t! Most people can understand buying electronic devices, furniture, even cars online but some things consumers just have to hold in their hands, look at, try on and, of course smell! Its official cannabis is in the latter category. A recent article in the Marijuana Business Daily took a look at the legal cannabis spending in Canada by Province. The report covered October-November 2018. “Provinces with more physical cannabis stores saw significantly higher per-person sales in the six weeks after Canada’s legalization of recreational marijuana, according to new data from Statistics Canada – an indication that consumers have a strong preference to buy their cannabis offline. British Columbia – the province with the biggest underground cannabis economy – reported the lowest per-person legal cannabis purchases, at just 68 Canadian cents per person from sales of 3.3 million Canadian dollars ($2.47 million). British Columbia managed to open only one government-run retail store for the first day of legalization while first-day sales from the province’s online channel were described as “horrifying.” Active companies in the industry making moves to ready that include: Choom(TM) Holdings Inc. (CSE: CHOO) (OTC: CHOOF), Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB), MedMen Enterprises Inc. (CSE: MMEN) (OTC: MMNFF), National Access Clinic Corp. (TSX-V: META) (OTC: NACNF), Tilray, Inc. (NASDAQ: TLRY)
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