Question

Prepare an assessment of Canada's potential to be the global market leader in supplying cannabis, as well as a market assessment.

Answer 1

The cannabis market in Canada is very significant and is growing at a steady pace as well. It stands at around $7.2 billion for the year 2019,the portion of legal sales within the same is more than 50 percent. Legal Cannabis is a fast growing industry in recent times. Canada is becoming the world’s biggest cannabis market, the country is having national legalized medical cannabis program, various import and export program, and a adult use program. It is expected that new sorts of consumers would be purchasing legal cannabis. The aim that Canadian government is looking for is to improve the legal and illegal ratio of the cannabis sale in Canada. Currently, the non licensed black market which holds around 85% of the users, the government is aiming to migrate them towards legal space, which will help Canada to explore the benefits of being a leading market of cannabis in the world. The government in Canada is also ensuring that right kind of programs are initiated to make sure that youths are indulged in legal purchases pf such cannabis instead of through black market. The 25 million Canadians of legal age to use cannabis is tapped by the government to make them legal consumers, once the same can be achieved, Canada can surely become market leader for supplying cannabis. The current market for cannabis in Canada is around $7.2 billion, however, till 2021, a in the overall market can be seen, and it is expected to remain at $ 5 billion in 2021.