Canadian innovations cultivate quality cannabis for explosive global marijuana market

Earlier this year, the federal government made good on its promise to introduce legislation that will legalize recreational cannabis use for Canadian adults. The proposed Cannabis Act — estimated to come into law by July of 2018 — would allow adults to possess up to 30 grams of legal cannabis in public and grow up to four plants per household.

Beyond July 2018, Canada will join a growing wave of medical and recreational cannabis legalization taking place globally and thereby benefit economically from what most analysts forecast as an explosive market. According to Arcview Market Research, for example, the North American legal pot market is currently a US$6.7 billion industry but will expand to US$22.6 billion by 2021.

In Canada alone, a Forum Research poll estimates that 31 per cent of Canadians make up the theoretical pool of potential marijuana users — approximately 8 million people. Canadian financial firm, PI...

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