Canada and Marijuana: Not a big player but still strong

420 Views
A cannabis leaf laid within the outline of the Canadian flag's red maple leaf, with rolled joints and a dried cannabis bud to the left of the flag.

Ever since the day of legalization Canada has not had as much sales as its giant neighbour, however Canada is somewhat considered the guinea pig of the industry. That is to say that Canada was the first country to become fully industrialized and is only second to Uruguay to legalize the recreational use.

Becoming the first country to industrialize the industry shows that Canada is creating a lot of jobs right now in the marijuana industry and while sales are still low compared to the U.S., estimates of $5-$10 billion in 5-10 years compared to estimates of $100 billion in 10 years for U.S., the overall growth in the future will have a more exponential growth as opposed to a linear growth. A simpler way to look at it, is that while Canada is still behind right now, it may soon become the leader in marijuana sales.

As it stands currently, there is approximately $500 million in revenue since legalization which most would consider a “disappointment”, however, I personally feel that it is too soon to judge. There is so much room to grow. Even Amazon took years before it started growing as one of the most successful businesses in the world.

It is still the first year, and while sales targets may not have been met, Canada is key player to look out for in the Cannabis industry.

Reference:

https://finance.yahoo.com/news/apos-much-legal-marijuana-canada-115100284.html

Rate this article
Write a comment or create a poll
0/500
No Comments Yet
Be the first to share what you think!