Later this year another large legal cannabis market will open up, with the lifting of prohibition on edibles and extracts in Canada. Following in the footsteps of larger markets, such as California, Canada is about to experience a heavier strain on supplies, as producers struggle to meet demand, particularly with the capability to yield extracts needed for these new products. Several companies already in the business of edibles and/or extracts have led the way through their example of how to prepare for delivering for these markets, such as Plus Products Inc. (OTC:PLPRF) (CSE:PLUS), MediPharm Labs Corp. (OTC:MEDIF) (TSX.V:LABS), Valens GroWorks Corp. (OTC:VGWCF) (CSE:VGW), Neptune Wellness Solutions Inc. (NASDAQ:NEPT) (TSX:NEPT), and Trulieve Cannabis Corp. (OTC:TCNNF) (CSE:TRUL).
Expectations on the alternative cannabis products market (drinks, edibles, and topicals) is very high, with Deloitte recently predicting the market’s worth to reach as much as $2.7 billion annually.
Already, the example of success is in California, where edibles are surging, led byinnovators ... Click here to view full article