Canada Recreational Pot Sales Could Reach $4.5 Billion by 2021
- Canaccord sees demand at 882,000 pounds in first full year
- Canada’s task force on legalization to deliver report
South American Marijuana Producer ICC Lists in Canada
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Canada’s push to legalize marijuana could be a “game changer” for the recreational pot industry with the potential to reach C$6 billion ($4.5 billion) in sales by 2021.
The federal government is planning to legalize recreational marijuana in Canada by 2017 with sales likely to commence in 2018. A vast illicit market exists that if brought into legal channels could result in demand of about 400,000 kilograms (882,000 pounds) of cannabis in its first full year, Canaccord Genuity analysts Matt Bottomley and Neil Maruoka said Monday in a note.