Cannabis Edibles Legalization Oct 17, 2019 Explained – RICH TV LIVE – JUNE 8, 2019
The upcoming cannabis edibles and alternative products category is forecast to be big business in Canada, according to a new report from Deloitte. Deloitte sees the Canadian market for next-generation cannabis products worth an estimated $2.7 billion annually, with edibles contributing more than half. Canada is gearing up to legalize cannabis-infused foods, beverages, topicals and other next-generation products in the coming months and while a formal date has yet to be set, regulations must be in place no later than Oct. 17, 2019. Deloitte estimates that roughly $1.6 billion will be spent on edibles in Canada, followed by cannabis-infused beverages at $529 million and topicals at $174 million. The global market for alternative cannabis products is expected to nearly double over the next five years, the consultancy added.
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