Segments such as food and beverage are growing in the Canadian hemp market

Sales of food and beverages are growing steadily despite strict packaging regulations. At the moment, the food and beverage market already accounts for more than 5% of all sales in the first half of 2021. For the entire 2020, the market for recreational hemp food products reached $ 87 million, while in the first half of 2021 it has already reached almost $ 54 million.

On the pages of the specialized electronic edition of national cannabis growers in the material “ Sales of edible hemp products in Canada exceeded $ 100 million ”, the attention of our dear readers and listeners was focused on the fact that in 2020 citizens of the “Country of the Maple Leaf” purchased products that included leaves and C $ 109 million ($ 87 million) legal recreational cannabis inflorescences.

Recreational Canada Market

Despite the fact that the leaves and inflorescences of legal recreational cannabis continue to dominate the Canadian market in 2021, such segments as food and drinks are actively developing. In particular, according to Statistics Canada, the cost of purchasing dried leaves and flowers of legal psychoactive cannabis exceeded $ 1 billion, or 73% of total sales, down 80% in the previous half and closer to 90% in early 2020. when food and beverages were just being introduced to the Maple Leaf Country market.

Of the nearly $ 1.5 billion spent by Canadian residents on the legal psychoactive cannabis market from January to June 2021:
• retail sales of extracts and concentrates amounted to about $ 230 million, or 16.4% of total sales;
• expenses on food (excluding drinks) almost reached $ 54 million, or 3.8% of total sales;
• expenses on drinks exceeded $ 18.5 million or 1.3% of total sales;
• The cost of purchasing dried leaves and inflorescences of legal psychoactive cannabis exceeded $ 1 billion, or 73% of total sales.

According to one of the leaders in the food segment, a representative of Indiva, “Sales of food and beverages remain relatively low compared to other markets, but they are steadily increasing their share despite strict packaging rules. At the moment, the food and beverage market already accounts for more than 5% of all sales in the first half of 2021. "

Commentary of the specialists of the Association "Ukrainian technical hemp"

It is necessary to note an immutable trend that is observed in all economically developed countries of the world - both in the market for medical and recreational hemp, leaves and inflorescences of the plant dominate everywhere. Those. the consumer with his money “votes” for the commodity item, which provides him with maximum opportunities for the minimum price. In addition, it should be borne in mind that for the entire 2020 the market for recreational food hemp products reached $ 87 million, while in the first half of 2021 it has already reached almost $ 54 million.

Considering the fact that “ Canadians prefer to use the therapeutic properties of cannabis without intermediaries, ” an elementary conclusion suggests itself - regulation at the level of the regulatory framework of the legal possibility of growing therapeutic varieties of technical hemp by individuals would provide opportunities for people in need of the therapeutic properties of the plant in our country it is legal to use the plant (remember that the use of leaves and inflorescences of the above mentioned plants for recreational purposes is impossible).

During the specialized round table " Peculiarities of cultivation of hemp plants" on the ground ", in a greenhouse or in a room " held as part of the training of the next course of students of the " Hemp University " therapeutic potential for individual use. In addition, during the round table, questions will be raised related to the need to amend the current legislation, according to which, having issued the necessary "package of permits" for this, any citizen of our country will have the opportunity to legally cultivate technical hemp of therapeutic orientation, for example, on your personal plot.