Select a categories

  • Select a categories
  • PHYTODYNAMIC CANNABINOID PRODUCTS
  • Foodstuffs
  • Cannabinoid Foods
  • Traditional Hemp Foods
  • Consumer goods
  • Footwear
  • Children's shoes
  • Men's footwear
  • Women's shoes
  • Сlothing
  • Bed linen sets
  • Fiber
  • Hemp fabric
  • Women's hemp bag
  • Insoles
  • Hats
  • Knitwear
  • Cosmetics
  • Series "HEMP OIL"
  • Series "PHYTODYNAMIC CANNABINOID COSMETICS"
  • Supplies
  • Medicine
  • Information sources
  • Books
  • lm
  • Presentations

  • Your shopping cart is empty!

Compare 0

The main cannabis market in Canada will be hemp extracts, food and cosmetics containing CBD.

03/04/2019 | hempmarket
heading_title

According to EY, the number of hemp extracts will increase from the current 10% of the market to 37%, the number of food products rich in CBD from 5% to 12% and cosmetic products from 1% to 5% by 2025. Additional catalysts for market growth will be biologically active and feed additives, as well as other formats of new products for the market.

Given the fact that the hemp market in Canada continues to grow rapidly, the experts of the British audit and consulting company Ernst & Young (EY) conducted its analysis. The findings suggest that in the short term in the “country of the maple leaf” it is predicted that this market will continue to grow significantly, with gradually increasing sales problems for licensed manufacturers of medical and recreational cannabis.

According to Ernst & Young's Canadian representative office, the legal cannabis market in Canada will double over the next six years and reach $ 8.2 billion. The market share of leaves and inflorescences will be halved as consumer demand is gradually replaced and significantly increased. the use of food b cosmetics containing cannabidiol (CBD), as well as various extracts made on the basis of hemp.

Currently, the share of green mass of cannabis accounts for about 84% of sales, but by 2025 this figure will drop to 46%. EY Canada employee Duncan Young claims that “by 2025, the share of the illicit market for marijuana will be significantly lower than it is now, due to the fact that the price and quality of legally sold products will be much better than the illegal market can offer. According to him, “Extracts, food products, biologically active and feed additives will bring the greatest profit already at the end of this year if the government of the country is able to provide this line of business with an appropriate regulatory framework. In particular, according to EY, the number of hemp extracts will increase from the current 10% of the market to 37%, the number of food products rich in CBD from 5% to 12% and cosmetic products from 1% to 5% by 2025. Additional catalysts for market growth will be biologically active and feed additives, as well as other formats of new products for the market.

According to the author of the prepared report for EY, Zachary Pendley “Since the legalization of the use of legal psychoactive cannabis in Canada for medical and recreational purposes, the development of retail trade and distribution in the country has been slower than originally thought.Therefore, a significant part of the potential customers of the hemp market at the moment continues to receive the cannabis products they need in an illegal way. In spite of this, as the industry develops, expanding access to legal cannabis products, as well as the emergence of derivatives in the legal market with a high margin, it is expected that the Canadian market for legal cannabis will grow significantly by 2025 ”. According to EY experts, by 2025, about 20% of the Canadian adult population in one form or another will regularly use various products made using different cannabis ingredients, and the average annual expenses of an adult cannabis consumer will increase from $ 1,200 to $ 1,600 on average.