Canada’s appetite for legal cannabis could be almost as big as it is for wine, CIBC says

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Canadians could soon be spending more on recreational cannabis than they do on liquor, if a report from a major bank is to be believed. Canadian Imperial Bank of Commerce calculated in a report this week that in the next two years, Canadians will consume 800,000 kilograms of cannabis, the vast majority of which will be for recreational use. “We believe that by 2020, the legal market for adult-use cannabis will approach $6.5 billion in retail sales,” CIBC said. “For context, this is greater than the amount of spirits sold in this country, and approaches wine in scale.” The federal government has been telegraphing for more than a year its intention of legalizing recreational cannabis by July. Canada’s appetite for legal cannabis could be almost as big as it is for wine, CIBC says

thumbnail courtesy of www.cbc.ca

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