Is there any difference between American and Canadian cannabis trends?
Both sides of the border enjoy the use of Cannabis. Canada is the second country in the world to legalize marijuana for medical and recreational use. However, the legal cannabis industry in America has been flourishing longer than the Canadian side of the border.
The American legal cannabis industry has created 211,000 full-time jobs as of 2019. This number is not recognized by the Bureau of Labor Statistics in America, as cannabis is federally illegal. So no cannabis-related jobs in the industry are recognized by this bureau.
Currently, though, in America, the cannabis industry is looked upon as the biggest job-creating market of the century.
The Canadian cannabis industry is responsible for job searches in the industry to be more than four times higher than the previous year. One of Canada's largest cannabis companies Canopy Growth Corporation is responsible for over 42% of jobs in this industry.
The trends of the two dramatically different countries are worth taking a glance over. It seems that edibles, oils, vaping, cannabis drinks, and CBD products are trending in popularity for the cannabis industry in both countries.
Edibles will perhaps quadruple in Canada by 2022 and could reach the $4 billion mark. It is estimated that nearly six out of ten Canadians will consume edible products when they become legal later in the year.
The cannabis industry in Canada follows strict government regulations on the limit of THC that will be legal in each edible serving. The total THC in a package cannot exceed 100mg. The trend towards recreational edibles in Canada, even before legalization later this year is huge.
Canadians can legally make their edibles and have been doing just that for the past few years. Experts feel that six out of ten cannabis users in Canada prefer to consume edibles. So far, the surveys that have been conducted indicate the Canadian palate leans towards cookies and cakes along with just about anything chocolate-based for their delight.
The American counter-partner has been legally selling the popular edible for some time.
With that said, the bigger trend is leaning towards vaping, oils, and other concentrates. Vape sales in California account for more than 30% of the cannabis sales. This number is only going to climb as the year continues. Distillate oils are very trendy in America due to the versatility and potency that this form of cannabis use offers.
Seniors in both countries are a big part of the cannabis market industry for the use of CBD products. Seniors are using CBD products for numerous ailments and as wellness supplements. The trend towards CBD oil use by the seniors in Canada is quite often the only way some seniors would ever consider using cannabis products. The estimated revenue for the Canadian CBD market is possibly going to reach $1 billion in the next five years.
The Californian edible market reached epic revenues in the range of $180 million. The use of THC infused food and beverages are continuing to climb, and the revenue produced from this trend of cannabis use in America keeps growing.
Canadians, as with their American neighbors, are noticing a drop in the numbers of consumers smoking a joint to experience the effects of marijuana.
Cannabis-infused beverages are becoming a hot commodity in America. It’s been projected that as the cannabis-infused beverage business takes hold in America, the revenue of $600 million is attainable by the year 2022.
As the legalization of edibles, including beverages, approaches in Canada, the expectation is that this trend will also be an enormous money-making venture in Canada also.
The trends in both Canada and America are similar. As the year unfolds, the legalizing of edibles, lotions, oils, capsules, and beverages later in the year in Canada will continue to raise the revenues from this ever-growing cannabis industry.
America, as it looks at Federally legalizing cannabis, will likewise be ready for a budding revenue from the cannabis industry.
Whatever your preferences are to enjoy the natural cannabis plant, please do it responsibly and have fun!!!!!