In the last diary post I mentioned the deep and persistent work of those cannabis advocates who lead the charge for legalization, based on a belief in the medicinal and wellness benefits of the plant.
Yet, perversely, we see medical cannbais registrations decline since a high last year; now down 11% to 330,000 according to Health Canada.
At the same time, legal sales are up a further 7%. We are seeing the transition to, and normalization of, the legal, recreational cannabis marketplace. It makes sense. When you can show up at any time and purchase with choice, then the barriers in place seem more onerous. Registration requires certification, bureaucracy, and supply and delivery delays.
Ontario and B.C. are getting store numbers up to where they need to be, and COVID has pushed more to the online channel. With this steady growth, we might not be at maturity for another 3-4 years, especially with edible and beverage categories still in their infancy.
With so much erstwhile turmoil in the industry this kind of normalization will be cheered. Industries should be straightforward and dull.
This Much We Know.