Canadian Cannabis Market Projected to Reach CAD$9.2 Billion by 2025
April 26, 2018
Washington – New Frontier Data, the global authority in data, analytics, and business intelligence for the cannabis industry, releases The Canada Cannabis Report: Industry Outlook 2018. This report examines Canada’s cannabis market, emerging business opportunities, potential risks and both investment and regulatory implications. It also looks at Canada’s cannabis demand, public and private market performance, and critical market forces, dynamics, and trends. As the legal cannabis industry expands globally, the report also looks at international opportunities for Canadian cannabis licensed producers (LPs) and potential impact on both Canada and the emerging regional legal cannabis import and export environment.
“Canada is about to become the first G20 nation in the world to fully legalize cannabis and the implications are enormous. New Frontier Data projects the domestic Canadian cannabis market will reach (CAD)$9.2 billion by 2025. Combined, the Canadian medical and adult-use markets will rival that of California – which boasts the 6th largest overall economy internationally. Canadian usage rates in the medical market are higher on average than in the U.S. When the adult-use Canadian market opens the combined domestic and international opportunities will increase dramatically and create new momentum around the world," New Frontier Data Founder & CEO Giadha Aguirre de Carcer.
“The adult-use market’s legislative and regulatory infrastructure is still being defined, but insights from Canada’s medical market will be invaluable to investors looking to make informed investment decisions about the still-evolving adult-use market. Data providers – like New Frontier Data– can provide pertinent details, including business opportunities by sub-sector, demographic preferences and market segmentation, as investors determine which companies and opportunities to reward with additional investment capital,” saidKnalysis Technologies President Paul Methot.
Among the key findings from the report:
- The total addressable market for annual consumer sales in Canada (i.e., the sum of illicit, medical, and adult-use demand in the country) is estimated to be CAD$8.6 billion in 2018, growing to CAD$9.2 billion by 2025.
- The Canadian legal market (domestic only, not including exports) is projected to be CAD$1.7 billion (US$1.3 billion) in 2018, growing to CAD$7.7 billion (US$6.0 billion) by 2025. Between 2018 and 2022, total legal revenue is forecasted to increase CAD$5.2 billion (US$4.1 billion).
- Canada is one of a few countries to allow for the importation and exportation of cannabis. Even with the export market still in its infancy, the U.S. is ceding the international market to Canada.
About New Frontier Data:
New Frontier Data is an independent, technology-driven analytics company specializing in the cannabis industry. It offers vetted data, actionable business intelligence and risk management solutions for investors, operators and policymakers. New Frontier Data’s reports and data have been cited in over 65 countries around the world to inform industry leaders. Founded in 2014, New Frontier Data is headquartered in Washington, D.C. with additional offices in Denver. For more information or media inquiries please visit www.newfrontierdata.com or emails us at firstname.lastname@example.org.
New Frontier Data does not take a position on the merits of cannabis legalization. Rather, its mission and mandate is to inform cannabis-related policy and business decisions through rigorous, issue-neutral and comprehensive analysis of the legal cannabis industry. For more information about New Frontier Data please visit: www.newfrontierdata.com.