Cannabis spurs a growing global industry

Article Excerpt

As more countries move to legalize marijuana production for medical and recreational use, investors are getting a sense of the industry’s potential. Estimates vary widely, but it seems clear that significant growth lies ahead as the industry moves to full legalization. Legal marijuana markets in the U.S. and in Canada are currently the world’s largest. Still, Europe is expected to see the fastest growth between 2017 and 2025. The medical use of cannabis is already legal in Canada, with an estimated 200,000 registered patients. Doctors prescribe marijuana mainly for chronic pain, and nausea associated with chemotherapy, epilepsy and anxiety. Studies indicate that U.S. states with accommodating legislation have 1% to 3% of their total populations registered as cannabis patients. This points to a potential doubling or more of the current 0.6% of Canadians now registered as medical marijuana users. Estimates indicate that this part of the Canadian market, alone, could be worth $1.5 billion to $2.0 billion annually. Over 10% of Canadians could become legal…

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