Cannabis Production in Canada
Over the five years to 2018, the Cannabis Production industry in Canada has transitioned from a single government-sponsored provider of medical cannabis products to a highly competitive industry comprising dozens of private companies. In late 2013, Canada enacted the Marihuana for Medical Purposes Regulations, which expanded access to medical marijuana by enabling Health Canada to issue licences for private companies to cultivate, produce and sell cannabis products to registered patients with medical prescriptions. This policy shift has resulted in surging demand for medical cannabis. As a result, industry revenue is estimated to increase over the five years to 2018. The Cannabis Act was implemented in October 2018, which legalized recreational marijuana for individuals over the age of 18. The flowering recreational market has only just begun to influence industry operations, but it offers the newfound enterprises that comprise the industry room to grow. This budding industry is projected to flower as a loosened regulatory environment fertilizes the consumer landscape permitting cannabis producers to take root. In turn, this legislation substantially increased the industry's total customer base, as the population of Canadians who have used cannabis products is expected to grow. The opening of the recreational market is expected to sustain industry revenue growth over the five years to 2023.
This industry includes all companies licensed by Health Canada to cultivate, produce and sell products containing marijuana for medical and recreational consumption. The value of medical marijuana grown privately and illegal purchases of cannabis products for recreational use are both excluded from this industry.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook