Cannabis 2.0

As we in Cannabis eagerly await October 17th, 2019, all eyes will be on Canada as we take another milestone step in cannabis legalization. Known as "Cannabis 2.0", we will see a new market emerge which will reach a new group of cannabis consumers not interested in or comfortable with current consumption methods.

With cannabis extract based products such as edibles, topicals, capsules, tinctures and beverages hitting the market, its no surprise that consumers appear to be much more eager and interested in trying out this wide range of products versus the first wave of cannabis legalized in 2018.

As reported in their third annual report on the Canadian Cannabis Industry, Deloitte predicts this new wave of cannabis products will make for a significant opportunity for players in the cannabis market. Estimating the cannabis market as a whole to be worth $2.7 billion annually, cannabis 2.0 will account for $1.6 billion alone.

With such strong consumer demand, Cannabis 2.0 is shaping up to be a solid and strong source of revenue growth in the cannabis sector. The potential for Canadian Cannabis Companies in this emerging global market is massive. What will keep companies afloat in this space long-term is quality product with quality ingredients...and that begins at the formulation bench.

"If Canada is to maintain a competitive advantage in cannabis over the long-term, it must create an industry environment that fosters innovation and scientific research." (Deloitte, Nurturing New Growth | Canada Gets Ready for Cannabis 2.0, 2019)

Innovation, safety, and strong business and leadership fundamentals will be critical to success as we navigate this new growth. We at Genova are committed to providing best-in-class product formulation that meets industry standards using quality ingredients, innovative packaging and sophisticated science to meet your product ideas and help elevate you in Cannabis 2.0 for the long-run.