Cannabis Production in Canada - Industry Market Research Report

Cannabis Production in Canada - Industry Market Research Report

Cannabis Production in Canada

Cannabis producers in Canada have blossomed in recent years as recreational products were legalized in 2018, opening up massive growth. Since Health Canada opened up medicinal cannabis production to more players in 2013, producers have grown continuously as they invest in production capabilities to produce quality products. As consumers shifted from illegal cannabis purchases to the licensed recreational market, cannabis growers have grown significantly, but revenue is expected to expand 17.5% in 2023 alone as the novelty of legal cannabis has worn off and most the black market has shifted to licensed purchases, which has decreased growth. Revenue has ballooned at a CAGR of 43.4% to reach $13.1 billion over the past five years.

The Cannabis Production industry in Canada includes all companies licensed by Health Canada to cultivate, produce and sell products containing marijuana for medical and recreational consumption. The value of medical marijuana grown privately and illegal purchases of cannabis products for recreational use are both excluded from this industry.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares."