Canada legalized recreational marijuana this month, but is it enough to open a new market for CBD and low-THC strains?
With recreational marijuana use being legalized in Canada, we can foresee a vast, regulated market emerging in the coming weeks. After all, the cannabis industry is expected to be worth $4 billion in the country. And as the government’s new policies come into play, it’s only natural for excitement and frenzy to grow in the public.
The new Cannabis Act and its supporting regulations came into force on October 17. Many long-term cannabis users are expected to turn to these new dispensaries after relying on black market supplies for years or even decades. These, however, are not the only expected customers. In fact, according to a report from Deloitte, it is expected that those who are relatively new to cannabis will be more interested in cannabis strains with low tetrahydrocannabinol (THC) content. And this is the American cannabidiol (CBD) frenzy, which is now taking over Canada by storm.
Based on the market report, we can expect to see a greater demand for CBD-oriented strains coming mainly from senior citizens who wish to make use of the anxiolytic and pain-relieving properties of cannabis without much concern for getting stoned. The Vice President of Marketing for The Green Organic Dutchman told CBC News that the CBD trend is gaining traction.
We can expect to see a resurgence of the baby boom generation, including many of those who in their younger years did not indulge for the sake of career and family. With their offspring now in college, they may just have a go at experimentation given the plant’s legal status now. Of course, others will go by a more serious approach, with a medicinal and therapeutic outlook when visiting local dispensaries.
The other side of the fence
Of course, some health care professionals in Canada are concerned about the consequences of legalizing recreational marijuana. Strict rules will however be applied on the purchase and use of cannabis, such as Canada’s government adjusting some impaired driving laws to deal with the consequences of driving while high on marijuana. All this, of course, may not become as serious an issue due of the more mature CBD mindset, which is beginning to prevail. The ubiquitous use of CBD-based cannabis as opposed to THC heavy strains would dramatically reduce many of the potential consequences that would otherwise come about with the legalization that has now taken effect.
The new Cannabis Act aims to accomplish three goals:
- Keep cannabis out of the hands of youth.
- Keep profits out of the pockets of criminals.
- Protect public health and safety by allowing adults access to legal cannabis.
It is difficult to speculate on whether the first goal will be achieved given the possibility of underage users acquiring it in their own homes through various means. Irresponsible adults that would allow younger relatives or friends access to cannabis they purchased. We can however, safely assume that the black market will now be in decline and legal cannabis will be less adulterated and thus safer for the public. The best part is that there can a strong focus on producing CBD oriented strains so that people may benefit from the plant without intoxication.