June 13, 2019
Deloitte is predicting the soon-to-be legalized edibles market in Canada will be worth $2.7 billion and will generate higher profits for retailers than cannabis products that are already legal.
In their new report Nurturing new growth: Canada gets ready for Cannabis 2.0, Deloitte says “the legalization on October 17, 2019, of edibles […] will create new product mixes that will reach consumers who may have been reluctant to try traditional cannabis consumption methods that are currently available. Many of these novice or “cannabis-curious” consumers will be older, often female Canadians who will prefer more familiar consumption formats, notably edibles such as baked goods.”
More than half of the estimated $2.7 billion Canadian market for edibles and alternative cannabis products will be spent on edibles ($1.6 billion), followed by cannabis-infused beverages ($529 million), topicals ($174 million), concentrates ($140 million), tinctures ($116 million), and capsules ($114 million).