Cannabis market predictions for 2019

Published Mar 1, 2019 01:30 p.m. ET

Cannabis is not going anywhere soon; it is here to stay. It is being used by different ages of the population and for many reasons. Recreationally it has become the go-to product of the future.

Marijuana market predictions

Marijuana research predictions are running rampant. Medical use of cannabis is on the forefront and moving fast. Now that legalization is becoming more widespread the study and trials are being used aggressively for the benefits that the plant provides. Marijuana use is here and not leaving. Big Pharma will play a part in the movement of the cannabis plant. The beverage and the food industry are also on board with the utilization of CBD.

Recreational use is now legal in Canada; it is expected that the cannabis industry will be right up there as a driving force for the economy and the business opportunities will be enough to put Canada in a great position to become a global leader.

As cannabis edibles and drinks become available, more joint ventures with the food and beverage industries and the licensed producer will be cemented.

Companies will need to pick their niche when deciding on which part of the industry to back. The choice to back which part of the industry whether it is in the cultivation, extraction, production or distribution and sales of cannabis will be interesting to watch.

The expansion of Canadian companies into other countries is expected to move

forward. These European countries will possibly include, Switzerland, the United Kingdom, and Denmark.

There is a thought that home-grown U.S. based businesses may relocate their business to Canada. It is expected that Canadian companies are set to penetrate the recreational cannabis market where legalization has been established.

Let's not forget to include the U.S. it is after all the largest global market when the opportunity is discussed.

Cannabis strain predictions

The future looks promising for craft and artisan producers. They will target the specific needs of the consumer and on a scale that will guarantee some quality and consistency of the product.

Here are a couple of strains that look fantastic for the new year.

• Wedding Cake
• Sundae Driver
• Cookies

The changes in the cannabis criminal justice system include benefits to past pot convictions. Canadians will not have to wait or pay for their pardons; this applies to simple possession. The government will allow persons that have served their sentences or paid their fines to be exempt from the waiting period that was in place before the legalization on October 17,2018.

The current fees for anyone applying for a pardon are $631; thisdoes not include other fees associated with this pardon. There was also a waiting period of 3-10 years after the completion of the sentence.

Modernization of weed

A Canadian non-profit cannabis advocacy company estimates that there are over 500,00 Canadians who will be affected by these changes to the system.

Let’s state that a pardon does not make a conviction of the past disappear. It does, however, remove the criminal record from the Canadian Police Information Centre, (CPIC).

It is important to realize that a pardon is not the same as an expungement, this procedure does make your past criminal convictions disappear.

It seems clear that the future prediction for the cannabis market in Canada is bright, the legalization has cemented insurmountable opportunities, and thankfully Canada has established her place in the Cannabis industry.

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