Cannabis: A turning point for society, an industry quickly maturing
Rapid acceleration in the growth of the cannabis industry points to opportunities for everyone from entrepreneurs to global multinational companies
As more governments legalize medical and recreational cannabis and the regulatory environment evolves, cannabis appears to be forging an entirely new category in Consumer markets.
Cannabis and related products appear to offer immense opportunities for Consumer players to establish themselves as knowledgeable and experienced market leaders.
For example, in Canada, the total cannabis market, including medical, illegal, and legal recreational products, is expected to produce up to $7.17 billion in sales in 2019 – up to $4.34 billion of which will come from the recreational market legalized in October 2018.
In Deloitte’s new perspective, Cannabis: A turning point for society, an industry quickly maturing, we look at how companies can prepare for a rapidly maturing industry and a shifting regulatory environment by engaging in early dialogue with consumers, building distribution and retail relationships, and establishing a variety of products.