Tag: canada
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Legal Cannabis Sales Contributed $258.8 Million To Quebec’s Government In The Last Fiscal Year
Canada’s government legalized cannabis for adult use in October 2018, however, each province and territory was allowed to create many of their own laws, rules, and regulations, particularly as it pertained to cannabis commerce. In Quebec, only the Société québécoise du cannabis (SQDC) is authorized to sell cannabis. The SQDC describes itself as selling cannabis…
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Does Canada Produce Too Much Legal Cannabis?
Canada’s legal cannabis industry is good at producing cannabis products. In fact, it’s likely a bit too good at producing such products. Canada first legalized cannabis for recreational use in October 2018, and by August 2020, companies in Canada already had an excess of roughly 600,000 kilograms of unpackaged dried flower and 46,413 more kilograms…
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Canada Sold C$414.1 Million Worth Of Legal Cannabis Products In March 2024
Canada’s emerging legal cannabis industry sold C$414.1 million worth of cannabis products in March 2024, up 7.1% compared to February 2024. Canada first legalized adult-use cannabis sales in October 2018. “The sales were up just 1.9% from a year ago. This was down from the 19.8% August growth rate and up from the lowest annual…
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Study Finds ‘No Increase’ In Hospitalizations Following Canadian Legalization
Canada became the first G-7 nation to legalize cannabis for adult use in 2018, and only the second country on earth to adopt recreational legalization behind Uruguay which passed its national legalization measure in 2013. Anti-cannabis headlines surfaced this week regarding a study conducted in Ontario which found that ER visits have increased among senior…
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Canadian Medical Cannabis Exports Hit All-Time High Last Year
Canada continues to dominate the legal global medical cannabis export sector, with Canadian cannabis companies exporting a reported 218 million Canadian dollars ($189 million) worth of medical cannabis products to other nations in fiscal year 2023/2024. “That’s an increase of more than 36% from the previous year’s exports of CA$160 million.” stated MJBiz Daily in…
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Cannabis Business Licenses Lowered In First Quarter Of 2024 In North America
As the legal cannabis industries in Canada and the United States continue to increase in size, the total number of cannabis industry licenses in both markets was lower in the first quarter of 2024 compared to previous periods. “The pace of cannabis business licensing in North America slowed in the first quarter of 2024, with…
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Legal North America Cannabis Industry Projected To Reach $298.5 Billion Value By 2032
North America’s cannabis industry is growing at a significant rate, as demonstrated in a recent analysis by Research and Markets. The company recently estimated that the legal cannabis industry in North America was worth $35.6 billion in 2023, and will experience strong growth in the coming years. “The North America legal cannabis market size reached…
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Global Cannabis Packaging Market Projected To Reach $9.06 Billion By 2030
Research and Markets recently published a new report projecting that the global cannabis packaging market will reach an estimated $9.06 billion in value by 2030, “expanding at a CAGR of 22.7% from 2024 to 2030.” “The growing legalization of cannabis consumption for medical and recreational use is contributing to market growth.” Research and Markets stated…
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Global Medical Cannabis Market Projected To Reach $82.5 Billion By 2030
The global legal medical cannabis market is projected to reach $82.5 billion by 2030 according to a new report by Research and Markets. The legal medical cannabis market was worth an estimated $32.3 billion in 2023 according to the report. “Extract Form Marijuana, one of the segments analyzed in the report, is expected to record…
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Legal Canadian Cannabis Sales Dropped In February 2024
Canada became the first G-7 nation to adopt a national recreational cannabis legalization measure back in 2018, and the second country to ever pass a national adult-use legalization measure, only behind Uruguay which passed legalization in 2013. The recreational Canadian market is the largest national adult-use market on the planet, with consumers having a number…