What conclusions can be drawn by analyzing the Canadian hemp nutraceutical market

Packaged food and beverage production totaled a record 4.1 million units in October 2020, surpassing the previous record of 2.9 million units set two months earlier. Sales growth in October increased by 13% over the previous month.

On the pages of the specialized electronic edition of Ukrainian cannabis growers, " Trends in the" edible "market of hemp leaves and inflorescences " in the country of "Wedge leaf" in the refraction to the already existing situation related to the " Growth of stocks of food and beverages from hemp, which far exceed sales " ... Based on the recently published statistics by the government agencies of Canada, one can draw certain conclusions and try to catch the trends emerging in this sector of modern cannabis production in economically developed countries of the world.

Packaged food and beverage production totaled a record 4.1 million units in October 2020, surpassing the previous record of 2.9 million units set two months earlier. Sales growth in October increased by 13% over the previous month. 

The Canadian food industry, which specializes in the sale of nutraceuticals based on the therapeutic properties of hemp, produced and shipped 12.7 million food items in October 2020, which is more than 7 times the volume of stocks observed at the beginning of the year. and amounted to 1.7 million units. It should be noted that, as well as in the medical hemp market, the volume of hemp raw materials with significant therapeutic potential, used in the food sector of modern cannabis growing in Canada, is currently six times more than the residents of the country are willing to buy.

Commentary of experts of the Association "Ukrainian technical hemp"

The information outlined in the chart provided by our North American colleagues reveals several trends in Canada's booming hemp nutraceutical market:

- in the sector of hemp nutraceuticals, as well as in other markets, the golden rule “who got up first, that and the slippers” works, ie companies that will be ready to deliver their products to the consumer in the forefront of sellers will be able to receive significant added value due to the exponential growth of the market in the first months of sales;

- in the first few months, the market growth is tens of percent and after about six months it gradually slows down and sharply increases either due to the entry of new products on the market, or under the influence of seasonal or market factors;

- market mechanisms almost immediately become relevant for the hemp nutraceutical market, when an excess supply of raw materials pushes processors to introduce new products to the market, while taking into account price competition, reducing prices and increasing the quality of the goods sold;

- given the significant excess of supply on the demand of the Canadian market, one of the mechanisms for the sale of manufactured food products with significant therapeutic potential is their export.