According to a Statistics Canada report published on Monday, Canadians spent as much as $6.2 billion on cannabis in 2015. The report was issued as part of the agency’s attempts to get to grips with the socioeconomic impacts of recreational weed sales before the legal market opens next year and marijuana statistics showed that Canadians love weed as almost as much as a glass of wine.
This study is the first of its kind in that it looks at the amount of cannabis being consumed across the country from 1960 to 2015.
The study not only confirms what we’d all expect; that cannabis consumption has gradually increased over time, but also reveals that the age groups consuming the most cannabis have also shifted.
The study shows that during the 1960s and 70s, the majority of cannabis consumers were in their teens or early twenties, however, by the time 2015 rolled around, two-thirds of all cannabis users in Canada were over 25.
It’s been clear for some time that Canada is leading the way when it comes to cannabis legalization but until now, it hasn’t been clear by how much. In 2015, people in Canada bought over 700 tons of cannabis which is estimated to be 50-75% of the $9.2 billion beer industry and about the same as the wine industry!
It is important to note that Statistics Canada have warned that its marijuana statistics for the market are very rough and actual consumption could “reasonably” be as low as half or as much as double. Nevertheless, it’s clear that cannabis is booming in Canada and it’s only set to get bigger.
Prime Minister Trudeau has committed to full legalization of recreational use by July next year. The Parliamentary Budget Officer has predicted that people in Canada will consume between 378 and 1,017 tons of cannabis during the first year of full legalization alone. An annual estimation of $400 million in annual tax revenue has also been set and the federal government and the provinces came to an agreement last week on how to split this revenue for the first two years of legal cannabis sales.