Market Researcher Says Canadian Cannabis Industry Exceeded $2.6 billion in 2020

According to BDSA, a market research firm specializing in the cannabis industry, global cannabis sales exceeded $21 billion in 2020. Based in Boulder, Colorado in the United States, BDSA made this announcement on March 5, 2021 in a blog post highlighting statistics from a market forecast.

The post noted, “Legal cannabis sales in Canada totaled an estimated $2.6 billion in 2020 and are forecast to grow to nearly $6.4 billion in 2026, a CAGR of 16%… During the year, BDSA Retail Sales Tracking data in Alberta and British Columbia showed rapid growth in shares of new Cannabis 2.0 product categories.”

The market research company also made predictions for the market into 2026. “Global cannabis sales reached nearly $21.3 billion in 2020, an increase of 48% over 2019 sales of $14.4 billion. BDSA forecasts global cannabis sales will grow from $21.3 billion in 2020 to $55.9 billion in 2026, a compound annual growth rate (CAGR) of more than 17%. This growth is expected to be steady, roughly $6 billion annually.”

For more information visit:
https://blog.bdsa.com/cannabis-sales-in-2020


New BC Cannabis Sales Programs Announced for 2022

September 30, 2020, Victoria, BC: The British Columbia provincial government announced new sales programs to benefit cannabis producers and Indigenous businesses.

A media release yesterday announced that cannabis producers in B.C. will have greater access to local retailers and consumers, thanks to new direct delivery and farm-gate sales programs that are in development by the Provincial government.

These changes come as a result of input and recommendations from long-time cannabis growers, Indigenous leaders and other stakeholders. The government is giving Health Canada-licensed small-scale producers, including nurseries, the option of delivering cannabis directly to licensed retailers.

“We’ve heard clearly how important these kinds of sales are for smaller cannabis producers trying to get a foothold in a market currently dominated by larger players,” said Mike Farnworth, Minister of Public Safety and Solicitor General. “Now more than ever, our government is committed to supporting B.C. businesses and encouraging people to buy local, and that includes creating conditions for cannabis businesses of all sizes to succeed.”

The Province has also promised to develop a farm-gate sales program that will give cannabis growers in B.C. the option to sell their products from storefronts located at their production facilities.

The targeted launch for these new programs is 2022.
The BC Ministry of Attorney General’s Liquor Distribution Branch will also launch an Indigenous Shelf Space Program. This program, expected to start sometime in 2021, is designed to help consumers easily identify products from local Indigenous producers in BC Cannabis Stores.

“These steps will help grow the legal cannabis industry in B.C. in an inclusive way,” said David Eby, Attorney General. “By making it easier to know more about the product, those who choose to use cannabis can make careful decisions about what types of product they want to buy and what sectors of the industry they want to support.”

(Image / BC Liquor Distribution Branch)

The ‘highlighted’ products should be available at private B.C. cannabis retail locations, as well as through the government-run BC Cannabis Stores online site.

For more information contact:
Ministry of Public Safety and Solicitor General
Media Relations
250 213-3602

New sales programs to benefit cannabis producers, Indigenous businesses | BC Gov News


Cannabis Helps Canadian Agriculture Industry in 2020

According to the newspaper Moosejaw Today, Statistic Canada reported farm cash receipts of $16.7 billion increased 5.2 per cent in 2020 over 2019.

The newspaper article, published September 13, 2020, stated, “Without a 62 per cent increase — $685 million — in cannabis sales, farm cash receipts would have increased a mere .8 per cent… Led by surging cannabis sales, farm cash receipts in the first half of the year bucked the general decline caused by the coronavirus.”

To read the original article, visit: https://www.moosejawtoday.com/local-news/cannabis-steers-healthy-increase-in-agriculture-income-2706446


Legalization of Cannabis in Canada

As of October 17, 2018, cannabis is legal in Canada for both recreational and medical use. If you want to know exactly what that means for you, there are plenty of articles available online to help you. Following are a few from Canada and around the world:

CBC News: Cannabis is legal in Canada — here's what you need to know

CNN: Canada just legalized recreational pot. Here's what you need to know

https://lfpress.com/news/local-news/pot-101-everything-to-you-need-know-about-canadas-marijuana-legalization

New York Times: Canada is Legalizing Marijuana. Here Are Some Questions, Answered.

https://www.nytimes.com/2018/10/16/world/canada/marijuana-legalization-explainer.html

https://cannabislifenetwork.com/prohibition-2-0-begins-october-17-2018/