Despite only legalising recreational cannabis in October, sales of weed in Canada have soared, doubling that of the previous year’s medical marijuana expenditures.
In the short three months since legalisation, Canada has become the third largest legal marijuana market in the world according to BDS Statistics.
Canadians spent $1.6 billion on legal weed in 2018 despite sales only being legalised across the nation on October 17.
The impressive $1.6 billion in sales of legal weed in 2018 came despite many legislative roadblocks during rollout – namely regarding accessibility. Only 129 stores across the nation were legally allowed to sell weed from October 17, of which there was only one in BC and zero in Ontario.
With black market sales in 2017 reaching $5.7 billion, it’s clear there’s still some way to go before all Canadians are on the legal weed train. Regardless, those with access are clearly showing interest in the legal product.
25% of Canadian adults have reported using weed in the past six months, so it’s only a matter of time before Canada becomes the largest weed market in the world, experts predicting this happening by 2022. Canada is among the first Western nations to legalise weed and this rapid surge in sales in such a short period are hopefully providing some encouragement to other countries considering following suit.