PwC MoneyTree™ Canada · Tech check - Insights Chapter 7 - Going global: The lure of international markets and benefits of a global invested in countries with strong medicinal markets – including Australia, . By building infrastructure to support the growth of the medicinal cannabis market, these companies will be . The recent legalization of recreational cannabis use in Canada A forecast of the Australian cannabis extract market alone projects an of Australian extracted medicinal cannabis products internationally. For those companies that are already established in Australia, and are continuing to grow with. New Fronteir Data examins the oceania cannabis market. Marijuana Insights In comparison, Australia's TAM is approximately three-quarters of Canada's TAM of $ billion As publicly-traded Australian companies grow in number, they are to become a major exporter to the global medical market.
and Markets Industry: Insights Growing Canadian The International Cannabis on Australian
The use of cannabis for medical purposes has been legal in Canada since In July , the Canadian Government is expected to also legalise recreational use. There is currently a great deal of discussion around how each province and territory will approach distribution and regulation.
While the majority of licensed Canadian cannabis producers grow their crops domestically, some have begun to look abroad for foreign production opportunities in an effort to reduce electricity, heat and labour costs. There are currently 84 cannabis stocks listed on the Canadian market. Although they have experienced some price volatility, overall performance post-IPO has been impressive to date. South of the border, many American states have legalised recreational cannabis use, though it remains a Schedule I narcotic at the federal level.
As a result, American cannabis companies cannot file a listing prospectus within their own country. The Canadian markets therefore represent a significant opportunity for American cannabis companies. As activity in this market continues to grow, a number of accounting issues have been identified. IFRS 41 requires companies to place a fair value on plants while still in the ground. While this is fine for a crop of carrots, it poses problems for the cannabis production industry, where standardised approaches to measuring the fair value of biological assets have not yet been established.
Many companies are struggling to produce meaningful valuations. For more information, contact: Exhaustive secondary research was done to collect information on the cannabis market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research.
Both the top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and sub-segments. For more details on this research, Request Free Sample Report. It has also been used to obtain information about the key developments from a market-oriented perspective.
The cannabis market comprises several stakeholders in the supply chain. These include suppliers, manufacturers, end-use product manufacturers, and service providers. Various primary sources from both the supply and demand sides of the cannabis market were interviewed to obtain qualitative and quantitative information. The primary interviewees from the demand side include key opinion leaders, key distributors, and retailers.
To know about the assumptions considered for the study, download the pdf brochure. Both the top-down and bottom-up approaches have been used to estimate and validate the total size of the cannabis market. These approaches have also been used extensively to determine the size of the various sub-segments in the cannabis market.
The research methodology used to estimate the market size includes the following details:. After arriving at the overall market size from the estimation process explained above, the total market has been split into several segments and sub-segments. In order to complete the overall cannabis market and arrive at the exact statistics for all segments and sub-segments, the data triangulation and market breakdown procedures have been employed, wherever applicable.
The data has been triangulated by studying various factors and trends from the demand and supply sides. Along with this, the cannabis market size was validated using both the top-down and bottom-up approaches. Canada , Cannabis Science Inc. US , and Aphria Inc. Canada 15 major players covered, in total. This research report categorizes the cannabis market based on type, livestock, and region.
With the given market data, MarketsandMarkets offers customizations according to company-specific scientific needs. The cannabis market is projected to grow from USD The increasing legalization of cannabis and the adoption of cannabis for medicinal purposes are the key factors driving the growth of this market.
The concentrates segment is projected to grow at the highest CAGR between and This is due to their ease in usage, and their versatility in the method of delivery, such as dabbing, ingestible oils, and tinctures. Also, along with ingestion, concentrates can offer cleaner, smoother, and less odiferous hits than flowers.
Additionally, concentrates are more potent in nature in comparison with flowers. The recreational segment, by application, is projected to be the fastest-growing segment in the cannabis market.
Despite recreational cannabis having an extremely low presence, its consumption and demand remain almost equivalent to that of medicinal cannabis, and hence, with further legalization, the demand for recreational cannabis could look at surpassing the demand for medical cannabis.
Uruguay is the only country in South America that has legalized the use of recreational cannabis. The cannabis market is projected to remain concentrated in the US and Canada. The dominance of this segment is majorly attributed to the fact that THC is the psychoactive substance in cannabis products and is responsible for head high feeling. Even though high THC content is better known for its mind-altering euphoria, it has important medical benefits and is considered effective in relieving nausea, appetite loss, and insomnia.
The North American cannabis market is estimated to account for the largest market share in The market in this region is primarily driven by growth in the US and Canadian markets. The cannabis market in this region is also driven by the increasing legalization of cannabis for both medical and recreational purposes all over North America and the increasing awareness among consumers regarding the health benefits of cannabis.
The cannabis market is further fueled by the presence of major cannabis giants such as Canopy Growth Corporation, Aurora Cannabis Inc. US , Aphria Inc. Canada , Maricann Group Inc. Canada , Tilray Inc. Canada , Medical Marijuana, Inc. Canada , Terra Tech Corp.
Insight into Canada's booming cannabis market
Aurora Cannabis Selects Shopify to Power Global ECommerce Platform · British Canada to legalise smoking pot: Can these stocks smoke the ASX? Dominate the Market · Organigram Announces First International Expansion Investment the conference will provide insights on the Canadian cannabis growing, testing. Spending on legal cannabis worldwide is expected to hit $57 billion by The initial decision by many U.S. states and Canada to create medical-only cannabis regulations wave of laws internationally to increase access to medical cannabis. Australia's legal cannabis market is forecast to grow from $ Uruguay and Canada have already made recreational use legal, while 30 countries (and 33 U.S. states), including Australia, Germany and Israel, have legalized some type of The legal cannabis industry is expected to reach $ billion countries to cater to the growing local markets around the world.