Legal Marijuana Is Set To Outsell Liquor in Canada By 2020

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Legal marijuana is set to outsell liquor in Canada by 2020 Jeremy Berke. Canada's legal marijuana market is set to be bigger than liquor by 2020. REUTERS/Chris Wattie Canada's legal marijuana market will be a $6.5 billion industry by 2020, according to a new report from CIBC, one of the country's largest banks. For comparison, that's far more than Canadians spent on liquor in 2017. CIBC is predicting legal marijuana will be a huge opportunity for investors, producers, and retailers.

Canada’s legal marijuana market is seeing green in more ways than one.

A new report from CIBC, one of Canada’s largest banks, estimates marijuana will be a $6.5 billion industry by 2020 in the country.

That’s more than the $5.1 billion Canadians spent on liquor in 2017, and it’s approaching wine sales. CIBC predicts Canadians will buy over 800,000 kilograms (over 1.7 million pounds) of marijuana by 2020.

The market will be led by adult-use (recreational) consumers, who CIBC predicts will account for 95% of sales, with the other 5% going to medical patients.

The private sector will be able to generate over $1 billion in earnings on marijuana sales, with the bulk of that flowing into the production side — companies that cultivate and produce marijuana.

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