Get Ready to Make Your Mark: The Future of Canada’s Cannabis Industry

Defining the Global Cannabis Industry, the second annual MJBizConINT'L returns to Toronto September 4-6th, 2019 bringing together 2,500+ international stakeholders to the center of the global cannabis marketplace and we at Genova are grateful to be here, learning from and networking with some great minds in this space here at the Metro Toronto Convention Center this week.

With so many moving parts to consider in Canada's emerging Cannabis market, maintaining an edge over competitors and preparing to compete overseas is going to be crucial to success in what will be a very active market. Although we are just scratching the surface of knowledge and expertise here at MJBiz, we wanted to share a few interesting items to consider if you are planning or ready to enter the infused product market in 2019.

Two key angles to consider:

1. Anticipate over saturation as more and more entrepreneurs enter and flood the market.

2. Prepare for consolidation as the market matures over time.

There are 195 countries. 40 of those with some sort of marijuana legalization framework. Only 9 of these with noteworthy commercial markets.

Here's the top 9:

United States

Canada

Germany

Australia

Brazil

Chile

Israel

Italy

Netherlands

The top three make for the market majority. It looks something like this currently:

United States: $8.5B-$10.0B

Canada: $700-$800M

Germany: $100M-$120M

Australia, Brazil, Italy, Israel, Netherlands Combined: $10M-$20M

Moving forward to 2024, market projections are impressive with Canada, the EU and the US being the front-runners. The Canadian market in particular is projected to triple to $40.6B USD by 2024. Keeping in mind that the roll-out of next-generation cannabis products such as edibles and concentrates will slow the Canadian markets growth in the near future due to the country's restrictive branding and marketing rules.

We at Genova are inspired by the enthusiasm and creativity we have seen these past few months in speaking with and meeting different entrepreneurs preparing to enter the extract market That being said, we remain focused on creating a long-term opportunity for our clients making for a successful entry and future in the market in 2019 and beyond, something we have seen mentioned throughout the day here in Toronto.

MJBizConINT'L runs September 4-6th here in Toronto. https://mjbizconference.com/intl/