The main trends of the Canadian hemp market in 2019
Canadian enterprises are already increasing their production capacity, directing them to the manufacture of hemp food and cosmetic products. Despite the fact that retailers are not yet able to sell them, the Canadian hemp market is actively preparing for October 2019, when the relevant rules governing the sales of products, as well as products made from hemp or having in its composition cannabisa come into force.
After the price, the most important factor when making a purchase decision is the type of hemp products that can be purchased on the market. At the moment, food products and beverages which include hemp ingredients are mostly absent in retail stores. Despite the fact that the Canadian hemp market is overly regulated, the government has decided that it needs time to develop rules for the sale of cannabis products. In particular, government officials are not worried about the resolution of the marking problem. Including for this reason, the Government of Canada has given itself time of one year in order to create the relevant regulatory and legal acts. Nevertheless, Canadian enterprises are already increasing their production capacity, directing them to the manufacture of hemp food and cosmetic products. Despite the fact that retailers are not yet able to sell them, the Canadian hemp market is actively preparing for October 2019, when the relevant rules governing the sales of products, as well as products made from hemp or having in its composition cannabisa come into force.
In anticipation of the next breakthrough of the Canadian hemp market, North American analysts have prepared a forecast of which branches of the modern hemp industry in the country will receive the maximum momentum in 2019.
Food
In the coming years, the food market itself will become an industry valued at billions of dollars. As smoking becomes less and less popular in Canada, the food market will become the fastest growing and most profitable segment of the cannabis market. According to estimates by Canadian consulting firms, the food market will grow to $ 4 billion by 2022. According to public opinion polls, six out of ten Canadian consumers of cannabis will prefer to use edible products with cannabinoids after they become legal in late 2019. Baked goods (cakes and cookies) 51% chocolate ; 43% will become hits of sales, after the adoption of relevant regulations.
Drinks with cannabis
Although the Canadian Department of Health regulations do not allow for the mixing of alcoholic beverages with hemp, alcohol giants are rapidly entering the Canadian market. For example, international beer producer and seller Constellation Brands collaborates with Canopy Growth, one of the largest Canadian producers of cannabis, North American brewing company Molson Coors establishes cooperation with another major Canadian producer of hemp HEXO.
Despite the fact that the aforementioned alcohol brands cannot yet introduce hemp raw materials into the recipe of the alcoholic beverages they create, they are actively entering the Canadian market, filling a niche in the run-up to the removal of current restrictions and the use of cannabinoids in their products. According to Mark Hunter, President and Chief Executive Officer of Molson Coors, the beverage market, which will include various hemp ingredients, will account for up to 30% of the food market up to $ 3 billion a year.
Instead of alcohol and beverages saturated with carbohydrates, we can expect the appearance on the market of coffee, soda and juice, which will include cannabinoids. In particular, drug-free cannabinoids are likely to be advertised as healthy components of various types of beverages, as products that can reduce inflammatory processes or normalize sleep or nervous system activity.
Cannabidiol products
Products with CBD will be everywhere cosmetics, food, products for animals, etc. According to analysts of the Canadian hemp market, cannabidiol will become the most fashionable of the known drug-free cannabinoids.
CBD is so important to the market that when Walmart Canada networks announced that they were considering selling cannabidiol products in their stores, Walmart stock prices jumped 2.5% . In part, this kind of market reaction is due to the fact that by 2022 the market for cannabidiol alone could reach $ 22 billion.
The market for CBD products is growing rapidly, as it is advertised as a panacea for everything from inflammation and pain to depression, as well as insomnia. Some skeptics already call this kind of processes & ndash; & laquo; new bubble, such as bitcoin
As one of the largest producers of technical hemp in the world, Canada has the opportunity to become a leader in the cannabidiol industry, although a large part of the Canadian hemp market is currently sharpened for industrial purposes. It is expected that the market for CBD products in Canada alone will reach $ 1 billion in the next five years. Cannabis oils containing cannabinoids are currently extremely popular in Canada, and there is a constant shortage of products made with "green" in hemp shops. masses cannabisa. According to Canadian growers, these products will soon be in high demand in the market.
Hemp tourism
The tourism business in Canada is clearly fascinated by the general interest of cannabis. In places where traditionally loyal to the hemp business, cannabis is already included in the list of goods and dishes of cafes and retail stores. Large retailers such as Cannabis Growth will reassign the buildings of old plants to functional hemp factories with visitor centers and cannabis educational tours. Since October 2018, a new sector of this industry has appeared in the country: visiting spa salons, in which healing oil-based treatments are carried out $ 155; visiting restaurants where hemp dishes are served - $ 130; organizing hemp weddings - $ 2,225, etc. Representatives of the market "hemp tourism" claim that as food and beverages become more commercially available, we can expect that the tourism industry, the foundation of which will be hemp, will rapidly grow and continue to grow.