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The Canada Cannabis Report: 2019 Industry Outlook
New Frontier Data the authority in data, analytics and business intelligence for the global cannabis industry, releases The Canada Cannabis Report: 2019 Industry Update and Outlook. The report examines the Canadian cannabis market, including sales, consumer preferences, investments, jobs and more, following one year of federally legalized adult-use.
Key findings from the report include:
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- Between 2019 and 2024, the legal adult-use market will grow at a 22.5% CAGR to reach over CAD $5.2 billion
- Canada’s illicit cannabis market remains robust, with Q2 2019 spending equal to CAD $918M, or 60% of the overall market, but by 2024 it will decline to 14% of the overall market
- The total active cultivation area has grown 300% since pre-legalization to reach 17.2 million square feet in July 2019
- By 2024, there will be in excess of 75,000 direct and indirect jobs associated with the Canadian cannabis industry
- And much more…
