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By 2021, Canada’s legalized adult-use cannabis market could have some 3.8 million legal consumers and sales of 6 billion Canadian dollars ($4.5 billion), according to financial analysts at Canaccord Genuity, an investment bank and research firm.
“Recreational upside could be a game changer,” said a report released Monday by Canaccord analysts Matt Bottomley and Neil Maruoka. The report also forecast that tough licensing standards will raise barriers to entry and there will be supply shortfalls until production hits stride in 2020, according to Bloomberg News.
The Canaccord analysts also predicted that annual marijuana demand would grow from about 882,000