Cannabis Business Plan Sample Canada

Posted on 6 June, 2022 by Micheal Alexander

According to the report by Arcview Market Research and BDS Analytics: “The Road Map to a $57 Billion Worldwide Market”, spending on legal cannabis worldwide is expected to hit $57 billion by 2027. The recreational cannabis market will cover about 67% of the spending while medical cannabis will take up the remaining 33%. Cannabis Business Plan Sample Canada

The North America legal cannabis market amounted to about $30 billion in 2021, growing by almost 50 percent on the year. The largest market was the United States, which totaled almost $25 billion. It was followed by Canada with over $4 billion. Analysts predict the overall cannabis market for legal adult-use and medical sales in North America to reach $37 billion in 2022 with the compound annual growth rate (CAGR) to over 20% and will grow to $46.5 billion five years later based on the Arcview Market Research report.

The federal government legalized recreational cannabis in Canada on October 17th, 2018 and sales at cannabis stores in the first three months after legalization totaled $151.5 million and reached $1,186 million in 2019, $2,625 million in 2020. Twelve months of 2021 brought in over $3,900 million according to Statistics Canada. The total cannabis market in Canada is estimated to generate up to $7 billion in sales according to Deloitte’s forecast. Cannabis Extraction businessplan Canada

We offer professional business plan templates, including pro forma financials and projections to help you know how much money it will cost to start your business and how much money you can make by starting and operating your 100% legally compliant cannabis business.

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