Federally, cannabis legalization saw daylight in Canada in 2018. The Cannabis Act legalized recreational marijuana in October 2018. Now, the country is all set for the second wave of legalization, Cannabis 2.0, which includes cannabis edibles, cannabis-infused beverages, extracts, and various other products. Let’s dig into this more.
Canada’s second wave of legalization
Next month, Canada will legalize cannabis-infused edibles for recreational use. The Canadian market will see a limited selection of products in retail outlets and online stores after the legalization, but not earlier than mid-December.
Canada legalized medical and recreational marijuana. However, the country has been very careful to ensure that public health safety is also taken into account. Keeping in mind how the edibles market could attract young people, Health Canada implemented a strict legal framework for cannabis. The amendments to Canada’s regulations in June will ensure legal production and sale of edible cannabis, cannabis extracts, and cannabis topicals.
How big can the edibles market get?
Canada’s edibles market will likely grow immensely. Based on Deloitte’s estimates in its recent research report, “Nurturing new growth,” the Canadian market for edibles and alternative cannabis products could reach 2.7 billion Canadian dollars annually. There will be various cannabis edibles including gummies, cookies, brownies, and chocolates. The Deloitte survey showed consumers’ preferences for various upcoming edible products.
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