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Cannabis Production in Canada - Industry Market Research Report

Cannabis Production in Canada - Industry Market Research Report

  • July 2022
  • 41 pages
  • ID: 5468709
  • Format: PDF
  • Ibisworld

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Spark it up: Revenue will likely grow as the industry continues to reach its expected potential

Abstract

Cannabis Production in Canada
The Cannabis Production industry in Canada has blossomed over the five years to 2019 as a massive market was introduced into the industry, driving up revenue late during the period. Since Health Canada opened up medicinal cannabis production to more players in 2013, the industry has grown continuously as operators invest in production capabilities to produce quality products. However, the legalization of recreational cannabis in 2018 has been the primary driver of the industry boom during the period. The Cannabis Act was implemented in October 2018, but ever since its announcement in 2017, the industry has begun to shift and transform as it transitions into a full-blown consumer product industry. The medicinal marijuana market has been growing significantly during the period, particularly as it was the only legal cannabis market up until late 2018. This has driven innovation and fomented investment into the industry from major operators. The industry is still nascent, adapting to a new environment as established operators explore new frontiers and unlicensed producers transitional into legality. Industry profitability is expected to improve over the five years to 2024 as operators enhance efficiency and revenue continues to grow.

The Cannabis Production industry in Canada includes all companies licensed by Health Canada to cultivate, produce and sell products containing marijuana for medical and recreational consumption. The value of medical marijuana grown privately and illegal purchases of cannabis products for recreational use are both excluded from this industry.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

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