Although the Canadian cannabis retail sector has not lived up to the expectations that were associated with the 2.0 market, the industry has recorded major advancements so far this year. From the number of open retail outlets to the types of products that are being offered to consumers, the landscape of the Canadian cannabis retail market has been slowly changing for the better.
Investors and innovators are always looking for the best areas of growth in the public sector. Currently, investing in the cannabis industry has proved to be one of the most beneficial returns. With the current cannabis movement across the world, the emerging U.S. market has made investors even more eager to invest in this space.
When Congress passed the 2018 Farm Bill and the U.S. president signed it in December of that year, hemp was removed from the list of Schedule I drugs that includes heroin, cocaine and marijuana. Products derived from industrial hemp containing less than 0.3% by weight of delta-9 tetrahydrocannabinol (THC) became legal and led to what became known as Cannabis 2.0, the sale of non-psychoactive products derived from industrial hemp.
In early 2020, the world as we know it changed when COVID-19 erupted into a global health crisis. This virus continues to wreak havoc on public safety and the economy, sparing no community or industry. Despite these challenges, the cannabis industry has shown incredible resilience through these uncertain times.
In 2018, sales of medical and recreational cannabis in the United States were nearly nine times higher than sales of Oreo cookies, according to a report from New Dawn Risk entitled, ‘Understanding and opening up the US cannabis insurance market’. Despite the significant demand – the US market saw an estimated $8 billion in legalized cannabis sales in 2018 – there are a few big problems blocking the way to further progress in the US cannabis industry.
Canada and the U.S. currently generate a majority of the cannabis industry’s revenue. While both countries are significant factors as the market matures, other nations will take up a share as well.
For example, Mexico, New Zealand and several other countries are considering adult use legalization, and could assume their place in the global market.
Several cannabis industry experts told Benzinga that several regions and nations are already ones to keep an eye on when tracking the global marijuana growth.
The United States spent $1.49 billion on cannabis research between 2000 and 2018. Most of the funds were directed at understanding the potential harms of cannabis use.
The United States spent $1.49 billion on cannabis funding from 2000-2018, according to a Science report. The majority of the funds were spent on understanding potential harms from cannabis use.
Canopy Growth (CGC) on Friday said it would open 10 physical retail locations next week in Alberta, the first of its stores to appear in a province that already has far more pot shops than any other. Canopy Growth stock and other marijuana stocks rose.
The company, which is the biggest marijuana stock by market cap, said it would open both its Tweed and Tokyo Smoke shops in the province, with most appearing in Calgary. Canopy said it was hiring 100 people in Alberta connection with the openings.
For one, CDPH rule 40175(c) bans the use of hemp or CBD in cannabis products even though there is no real reason to continue to prohibit the use of hemp-derived cannabinoids.
A new analysis of cannabis research funding in the United States, Canada, and the United Kingdom has found that $1.56 billion was directed to the topic between 2000 and 2018—with about half of the money spent on understanding the potential harms of the recreational drug. Just over $1 billion came from the biggest funder, the U.S. National Institute on Drug Abuse (NIDA), which doled out far more money to research cannabis misuse and its negative effects than on using cannabis and cannabis-derived chemicals as a therapeutic drug.
