Large players have gobbled smaller rivals and are dominating Canada’s legal cannabis industry, but small firms may be about to have their day in the sun.
Many entrepreneurs believe that when Canada legalizes cannabis edibles, drinks, concentrates and topicals in October, benefits will flow to smaller ventures.
Deloitte estimates in a recent report that the second wave of cannabis legalization, or Cannabis 2.0, will open a $2.7 billion market in Canada, with cannabis-extract-based products, including edibles, accounting for about $1.6 billion.
“You’d be shocked at the size of the edibles industry,” said Brandon Wright, CEO of Dynaleo, which develops and plans to manufacture edibles at an Edmonton facility. “Cannabis gummies are already being purchased by the millions of units.”
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