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According to a new report from Deloitte focused on Canada’s future recreational cannabis market, smokable products are losing their fire among consumers preferences. 

Currently, smoking rolled cannabis joints holds 64 percent of the market share among cannabis users, however that number is expected to drastically decrease as new legal products hit the market. In a survey, more than a third of current cannabis users say they’re likely to try ned products when available other than smokables. Of those consumers, it is expected six in of ten plan to purchase and use edibles. 

The edible market is predicted to rack in between $12 billion and $22 billion once fully mature, with smokable generating around $5 billion in 2019. 

The report gave more insight into the future markets consumers. Legalized cannabis is also expected to attract “conservative experimenters”, identified as adults between 35 and 54 years old with a post secondary degree and families. Less Frequent users are expected to spend about 68 percent more, and regular consumers are expected to buy more often than they currently do.
To read the full report, follow the link below:
https://www2.deloitte.com/content/dam/Deloitte/ca/Documents/consulting/ca-cannabis-2018-report-en.PDF 

Source: https://news.medicalmarijuanainc.com/cannabis-edibles/

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