Over the last decade, the global cannabis industry has expanded to become a growing global market, generating over $37 billion in sales in 2021. It is expected that the market will generate $100 billion in sales by 2026, reflecting a bullish trajectory for the industry.
The Canadian legal cannabis sales have been boosted by an increase in the number of stores and falling flower prices that have brought consumers out of the illicit market for the product. The December retail sales of cannabis across the country rose 8.5% from the prior month to CAD382.40 million ($298.61 million). Moreover, according to a Deloitte Canada report, since Canada legalized recreational cannabis in 2018, the industry has contributed $43.5 billion to the country’s GDP.
