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Appropriate cannabis sales in Canada to eclipse hard liquor product sales by 2020, CIBC says

Appropriate cannabis sales in Canada to eclipse hard liquor product sales by 2020, CIBC says

The Canadian Imperial Bank of Commerce has released a study providing you with an optimistic outlook on Canada’s future legal cannabis industry. Inside their report, en titled “Cannabis: very nearly Showtime,” CIBC analysts predict that the cannabis industry will surpass the liquor industry because of the 2020 year.

In line with the CIBC analysts, sales of appropriate leisure cannabis is likely to achieve C$6.5 billion ($4.6 billion). This represents 95% of all of the appropriate sales.

The analysts state that appropriate leisure cannabis sales will top the C$5.1 billion that Canadians allocated to spirits along with the $7 billion devote to wine in 2017. Meanwhile, Canadians spent $16 million on tobacco a year ago.

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