The Financial Post reports in its Tuesday edition that the market for alternative cannabis products such as drinks, edibles and topicals could be worth as much as $2.7-billion annually, says a report from Deloitte.
The Post's Nicholas Sokic writes that with the second wave of legalization approaching this October, the report, titled Nurturing New Growth: Canada gets ready for cannabis 2.0, concluded that the edibles market alone could be worth $1.6-billion, with an additional $529-million coming from cannabis-infused beverages.
The report was careful to offer a caveat, noting that growth would take time. "There will be missteps, delays, and frustration," it said. "This is to be expected in an industry that just launched."
It noted that some preferred edible or alternative formats might not be available immediately after legalization in October.
Deloitte's Jennifer Lee says, "This is going to be a very profitable industry, but if you expect to make money overnight, it's not going to happen."
The report takes note of Canada's advantages in the global industry, including government support and access to capital markets, but urges Canada to continue to innovate in the face of other nations' evolving legislation.
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