Tag: canada
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Nova Scotia Sold $121 million Worth Of Cannabis Products In 2023
According to the Nova Scotia Liquor Corporation, and as originally reported by StatCann, the Canadian province’s Crown corporation, which operates 49 retail cannabis locations, sold $121 million worth of cannabis in 2023. “Cannabis transactions increased by 12.2%, but the average basket size decreased by 3% to $37.27, along with a 4% reduction in the average price…
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Global Cannabis Food And Beverage Market Projected To Reach $2.63 Billion By 2026
The legal worldwide cannabis food and beverage market is projected to reach an estimated $2.63 billion by 2026 according to a new report by Allied Market Research. The projected increase in market value is attributed to cannabis policy modernization efforts around the globe and increased consumer demand. “According to a new report published by Allied…
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Consumers Report Drinking Less Alcohol After Cannabis Sales Become Legal
Consumers in North America have reported consuming less alcohol after their jurisdictions legalized recreational cannabis sales according to the results of two new surveys, suggesting that consumers are replacing alcohol use with cannabis use. “In Canada, where cannabis has been legal nationwide since 2018, 22.8% of people who use both cannabis and alcohol reported drinking…
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Canada’s Hemp Industry Continues To Shrink
As Canada’s legal adult-use cannabis industry has increased in size and scope in recent years, the same cannot be said about the nation’s hemp industry. According to Canadian government data, the number of industrial hemp licenses issued has trended downward in recent years. Below is the number of licenses issued by year: 2018: 542 licenses…
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Canada’s Legal Cannabis Retail Sector Shrank In Spring 2024
Canada remains the largest national cannabis commerce public policy experiment on the planet. The North American country legalized cannabis for adult-use in 2018, including regulated sales through licensed retail outlets. According to recent reporting by StatCann, the nation’s legal cannabis retail footprint shrank slightly in recent months. “The number of retail stores across Canada also declined…
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Canada’s Legal Cannabis Industry Sold C$428.6 Million In April 2024
Canada’s legal cannabis industry sold C$428.6 million worth of products in April 2024 according to data released today by Statistics Canada. April’s cannabis sales total is a 5.3% increase compared to March 2024 when Canada’s legal cannabis industry sold C$406.8 million worth of products. “In 2023, total sales increased 12.5% to C$5.09 billion, and in…
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Medical Cannabis Packaging Market Projected To Reach $117.2 Billion By 2032
The global cannabis packaging market is projected to reach $117.2 billion in value by 2032 according to a recent analysis by Astute Analytica. The entity describes itself as “a global analytics and advisory company.” “The global medical marijuana packaging market was valued at US$ 6.5 billion in 2023 and is projected to reach US$ 117.2 billion…
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How Many Countries Have Legalized Medical Cannabis?
According to a recent study conducted by researchers from Ukraine and France, and published by the U.S. National Institute of Health, 57 countries have adopted medical cannabis legalization measures. Israel was the first country to adopt a national medical cannabis legalization measure (1999), and Ukraine was the most recent (2024) as of the posting of…
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How Many Registered Medical Cannabis Patients Did Canada Have In 2023?
Canada first legalized cannabis for medical use in 2001. For many years, the nation’s medical cannabis industry largely operated in legal grey areas. Medical cannabis was overhauled in 2018 when Canada became the first G-7 nation to adopt a national adult-use legalization measure, including permitting adult-use sales. As with every market that first legalizes medical…
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Are Major North American Cannabis Stocks Profitable?
When it comes to cannabis stock offerings, North America’s emerging cannabis market is likely the first thing that pops into people’s minds. Canada became the first G-7 nation to legalize cannabis nationally for adult-use in 2018. Cannabis remains prohibited at the federal level in the U.S., however, 24 states have adopted recreational cannabis legalization measures.…