Canadian Cannabis Market Trends: Sales Increase As Youth Impact Study Unfolds

Statistics Canada reported a 7.1% increase in cannabis sales for March, reaching C$414.1 million, up from February's revised C$386.8 million.

On a per-day basis, sales rose 0.2%. Compared to last year, sales were up 1.9%, down from August's 19.8% growth rate. Total sales for 2023 increased by 12.5% to C$5.09 billion, while 2024 saw a modest 3.2% rise from a year ago.

Alberta Reviews Cannabis Effects On Youth

The Alberta government has established an expert panel to review the impact of cannabis on individuals under 25. Five years after legalization, the province aims to assess the effects on youth through a comprehensive study. The panel includes six health experts and a political adviser.

Dan Williams, Minister of Mental Health and Addiction, stressed the need for evidence-based policy decisions.

The panel will review academic research and conduct a jurisdictional scan to compare Alberta's situation with other regions. A $280,000 grant has been allocated for this study, expected to conclude by summer.

Support For Cannabis Research

Industry experts support Alberta's initiative. Ivan Ross Vrana, managing partner at Diplomat Consulting, emphasized the importance of research in understanding the risks and benefits of cannabis.

The study includes experts like Dr. Philip Tibbo from Dalhousie University and Assistant Professor Emily Hennessy from Harvard Medical School. Findings could inform future policy decisions, including potential changes to the legal age for cannabis purchase and consumption.

To learn more about the cannabis business and how to invest in the sector, don't miss the opportunity to join us at the 19th Benzinga Cannabis Capital Conference in Chicago this October 8-9. Engage with top executives, investors, policymakers, and advocates to explore the industry's future. Secure your tickets now before prices increase by following this link.

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