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According to the latest insights on the marijuana consumer market in Canada based on facts and statistics shared by Financial Post at the beginning of February 2019, Canada’s cannabis industry is bound to reach $5 billion worth by 2021.
It is crucial to note that this valuable information marks the very first time that figures for recreational marijuana sales in Canada are being estimated after legalization took place in 2018.
Meanwhile, the availability of important details when it comes to cannabis seeds sales in Canada remains rather limited. However, things are about to dramatically change in the following years when more online and offline portals for statistics finally get to collect sufficient data by market, the economic sector, and nonetheless, opinion research institutes.
In the meantime, we have compiled a list of exciting and meaningful bits of information, facts, and stats about the cannabis industry and the related markets in Canada with a mind to help all the business owners who are looking into establishing a fruitful relationship with wholesale cannabis seeds retailers make the most from selling marijuana seeds.
Does Growing Cannabis from Seed Have Something to Do with Canada’s Pot Industry Estimated Worth not Living up to Experts’ Expectations?
To some, the expected worth of the Canadian cannabis industry hitting $5 billion by 2021 based on a report shared by the cannabis research company Brightfield Group may sound like news that deserves a decent celebration but to others, these figures are actually disappointing. The managing director of Brightfield Group, Bethany Gomez, highlighted that soon after the announcement of the recreational pot market in Canada experts expected a very strong rollout, especially after all the great “hype and hope,” yet they didn’t really get to see what they were craving for.
According to yet another cannabis research firm, New Frontier Data, the Canadian pot industry could be worth $9.2 billion by 2025, which is quite similar to the analysis compiled by Brightfield Group.
What makes cannabis experts frown upon the relatively modest sales is intricately related to the confusing, drastic contrast to the $43 billion in market valuation of Canada’s top 10 cannabis companies.
In fact, Brightfield Group’s early estimations on the Canadian cannabis industry’s projected worth prior to being able to collect, read, and evaluate the actual data of recreational pot sales across Canada, pointed out to an expected worth of about $8 billion. So, where did the experts go wrong?
Is it possible that Canadians are not that much excited to enjoy the myriad of cannabis products available to purchase legally across the country? Or is it that the illicit market has managed to truly flourish after legalization, thus, taking away a succulent portion of the legal Canadian pot industry’s profit?
As of now, we cannot be 100% sure about the exact reasons that lead to Canada’s cannabis industry profit reach only about half of the expected worth.
Above all, more time needs to pass before sufficient data can be collected and interpreted. However, many cannabis experts believe that it might be the case that the tremendous potential of growing cannabis from seed has been underestimated by those who were positive the pot industry in Canada is bound to reach out-of-this-world profits after legalization. Since people can grow their medication from seed and save tons of money while also being fully in charge of what their plants are being fed with, it does seem like a no brainer that most of the marijuana users would highly likely go for at-home marijuana growing.
Apart from the convenience and joy of growing cannabis from seed, it is important to take into consideration other essential factors contributing to the still insufficient worth of the legal marijuana industry in Canada. There has been a dire shortage of cannabis products available in the post-legalization environment. Both confusions, as well as cost, are certainly keeping a lot of potential participants in the legal Canadian cannabis industry at bay, waiting for the confusions to clear up.
As a comparison, the estimated worth of the US recreational and medical marijuana consumer market in 2024 is estimated to reach $37.3 billion USD, according to the German online portal for statistics, Statista.
The Cannabis Act Coming into Force in Canada: Highlighting the Cannabis Seeds Sales-Related Bits of Information that Matter
Many business owners who are still eyeing the legal cannabis market in Canada for the best opportunities to embrace are not well-aware of what the Cannabis Act coming into force actually indicates for businesses. Nowadays, businesses can choose to partner with many different cannabis sales-related companies, ranging from wholesale marijuana seeds suppliers to fancy, high-tech vape pens distributors.
But what is the cannabis niche that will bring the highest profit for your business’ sake?
There is no straightforward answer to this question, as every business is unique, hence, what works for some may not work well at all for others. However, making cannabis seeds a part of your winning business strategy definitely ranks into the category of smart decisions that promise high potential profits because of several reasons tightly related to the Cannabis Act.
1. Canadians can now legally purchase limited amounts of fresh and/or dried cannabis flowers, oils, plants, and seeds from authorized retailers.
2. Canadian citizens can now legally grow up to four cannabis plants per household from licensed marijuana seeds.
3. Canadians can now legally possess and use various cannabis products in their homes, such as drinks, foods, and concentrates, as long as no dangerous organic solvents are used for preparing any of these cannabis-laced products.
These 3 points have something valuable in common that could greatly help business owners understand better the immense potential of selling cannabis seeds. Canadian citizens are now blessed with the opportunity to grow marijuana legally, and even though the number of cannabis plants per household is limited and a huge number of cannabis users may have opted for additionally purchasing cannabis products to satisfy their needs, there is little doubt that growing marijuana at home comes with invaluable benefits no marijuana user out there would like to be deprived of.
Cannabis Seeds Sales in Canada: Final Notes
In the first three months of 2019, an estimated 2.5 million Canadians (47%), reported having obtained cannabis from legal sources, including online licensed producers and authorized retailers. As a comparison, over the same period in 2018, only 954 000 Canadians (about 23%) reported having obtained marijuana from legal sources, which is more than logical to assume since non-medical cannabis use was not yet legal back then.
On another note, weekly and occasional cannabis use among Canadians has been on the rise after legalization, while daily and almost daily marijuana use rates remain the same.
Ultimately, as far as cannabis seeds sales statistics are concerned, the official website of the Government of Canada has come up with some pretty intriguing, although still rather limited, market data stats for cannabis seeds sales for the 2018-19 fiscal year. February – March 2019 marked a whopping 33,305 – 34 502 recreational cannabis seeds sold vs. 4965 in January 2019, based on a finished inventory of provincial distributors and retailers.
It is important to note that unlike other cannabis products, both finished, as well as unfinished cannabis seeds are recorded in different units in the Cannabis Tracking System, all unfinished cannabis seeds being recorded in kilograms.
What will tomorrow bring in terms of cannabis seeds sales in Canada? We can’t tell for sure but we are positive that bright days for wholesale marijuana seeds retailers, ganja entrepreneurs, recreational and medical cannabis users, as well as cannabis businesses alike are just around the corner.