If you are from Canada and if you are not behind in the news, you probably already know that marijuana use and cultivation for medical and recreational use is now fully legal. That means that you can purchase, use, and even grow cannabis without running into legal issues as long as you follow the rules set in place to regulate the sale and purchase of marijuana.
Marijuana legalization in Canada actually played a huge role in the rise of the cannabis industry. The legal marijuana market is now one of the fastest-growing industries in the entire world and is expected to grow even bigger and faster in the next few years as new businesses are predicted to emerge and as new developments are set to arise.
That said, you might want to take part in this rapid rise if you want to take advantage of how the marijuana industry is still in the middle of its growth phase. And if you do so as early as possible, you may be able to dominate a huge chunk in your niche market and become the leader in your respective locality.
But, before you do so, you should first know the status of cannabis in Canada today.
How Fast is the Cannabis Industry Growing in Canada?
It really is not a secret that cannabis is rapidly growing in Canada. Marijuana was already popular in the country even before legalization but it has grown exponentially when officials decided it was time to give this plant a chance.
From 1961 to 2017 before Canada legalized cannabis, only its medical use allowed. However, even though only patients with recommendations were allowed to buy cannabis, a total of $5.7 billion was spent on both medical and recreational marijuana by 4.9 million people across the entire country. That means that those people were willing to spend an average of $1,200 for marijuana.
Then, when Canada legalized marijuana late in 2018, the market suddenly boomed. Sales began to increase tenfold as marijuana buds were flying off the shelves due to the increase in demand. In that year alone, Canadians spent $1.6 billion for legal cannabis. And during the first three months since marijuana was legalized, over $151 million was spent on legal cannabis.
If you look at those numbers, the $1.6 billion spent by Canadians in just a single year is surprisingly big compared to the aggregate expenditure on marijuana from 1961 to 2017. That means that cannabis really did get a huge spike in popularity in 2018, especially during the final three months when the drug was finally legalized.
How Fast Will it Grow from Here on?
Every month, the number of patients signing up for medical cannabis has been increasing by 10%. Meanwhile, dried cannabis buds have also been increasing by 6% every month. Finally, cannabis oil products have seen a huge increase in popularity as it has been increasing in sales by 16% on a monthly basis.
Following that trend, researchers believe that 2019 will trump the 2018 sales by more than triple. They expect that the total sales (legal and illegal) will reach more than $7 billion. They also expect that more than half that number will be comprised of legal marijuana sales. That is about $4.3 billion.
It is also expected that the rising demand for marijuana will have effects that will trickle down to all of the other important aspects of the economy. Some studies point out that the total contribution of marijuana to the entire economy (due to transportation expenses, security fees, licensing fees, etc.) will reach $22 billion. One bank even believes that the cannabis industry in Canada is eventually on its way to being bigger than the hard liquor industry in the country by 2020.
That said, you can really see how fast cannabis is growing in the country as more and more people are expected to use marijuana. And, as the studies show, Canadians might eventually use marijuana more than they drink liquor. That is an amazing feat if you look at how large of an industry hard liquor is in Canada. In fact, it is now even bigger than the tobacco industry as more Canadians now prefer smoking weed rather than tobacco.
Who Can Buy Marijuana?
Different Canadian states or provinces have their own laws and regulations for the use of marijuana.
In the state of Alberta, you must be at least 18 years of age to be legally allowed to consume, buy, possess, and cultivate marijuana. It is basically the same regulation as tobacco in terms of public consumption. However, you are not allowed to use marijuana near children. And for those wanting to cultivate the plant at home, you are only allowed four plants.
- British Columbia
In British Columbia, only those at least 19 years old can consume, buy, possess, and grow marijuana. Again, the laws on how you consume it are the same as tobacco and you also are not allowed to smoke marijuana near children. You can also grow up to four marijuana plants but your cannabis should be hidden from street view if you are growing them in your home.
If you are living in Manitoba, you must be 19 to be able to consume, buy, and possess marijuana. You are almost restricted from using or smoking cannabis in public. You can only do so under certain circumstances. Finally, home cultivation of cannabis plants is strictly prohibited by the laws of the state.
- New Brunswick
In the state of New Brunswick, the government allows you to buy, consume, possess, and grow marijuana only if you are at least 19 years old. Consumption of cannabis is only allowed in your private residence as public consumption is prohibited. If you want to grow them in your home, you can do so but only up to four plants and if they are locked and secured. That means that you probably can only grow them indoors.
- Newfoundland and Labrador
In Newfoundland and Labrador, you can consume, buy, possess, and grow cannabis at the age of 19 years or older. Only private consumption is allowed in this state. And for those willing to grow the plant at home, only four marijuana plants are allowed for cultivation.
- Nova Scotia
If you live in Nova Scotia, you have to be 19 to consume, buy, possess, and grow marijuana. Public consumption is only allowed in designated smoking areas. And when growing them, you are only allowed up to four plants as long as they are cultivated indoors.
For those living in Ontario, you are allowed to consume, buy, possess, and grow cannabis as long as you are 19 or older. You can use marijuana in public except in places where there are children nearby. Each household is also allowed to grow at most four cannabis plants.
- Prince Edward Island
In the province of Prince Edward Island, only those at least 19 years old are allowed to consume, buy, possess, and grow cannabis. At present, you are only allowed to consume marijuana in your private residence. And if you are thinking of cultivating marijuana in your household, you are only allowed four plants.
If you find yourself in Quebec, you can consume, buy, and possess marijuana so long as you are at least 18 years old. You are prohibited from smoking marijuana in schools and universities but public consumption follows that of the same rules applied for tobacco. However, there is a chance that the regulations will change the legal age to 21 and will also prohibit public consumption. In any case, you are not allowed to cultivate the plant in your household.
In Saskatchewan, people at least 19 years of age are allowed to consume, buy, possess, and cultivate marijuana. You are not allowed to consume cannabis in public as only private consumption is allowed. And for those looking to cultivate marijuana in that province, you are allowed up to four cannabis plant per household.
Again, there are different rules and regulations in place in the different states or provinces in Canada when it concerns places where you are legally allowed to buy marijuana. However, what is most likely common among the different provinces is that selling cannabis will be strictly regulated and buying legal weed will not be as easy as purchasing tobacco and alcohol.
That said, most provinces will make marijuana available for sale in licensed retailers and dispensaries that are heavily regulated by the law. Also, there will be certain types of strains up for sale in federally-run online stores in most provinces.
For example, British Columbia has its own online store selling flowers of certain strains of marijuana as well as pre-rolled blunts. Alberta also has online stores that are all controlled by the federal government. The same could also be said about Ontario, which also runs an online store for cannabis. However, there are also states (such as Manitoba) that will allow privately-owned online stores for cannabis.
Again, the sale of marijuana depends on the laws of the provinces. Some provinces even faced shortages (Nova Scotia, New Brunswick, and Quebec) back in 2018 and had a few stores shutting down or closing a few days a week due to the lack of supply of marijuana and the high demand that comes with it.