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support, access to capital markets and the banking playing the long game to wait out the changing
system, and a unified market that is more scalable regulatory environments—will be the ones who
than the fragmented one in the United States. succeed and prosper."
But the introduction of the US Farm Bill will be a
game-changer; Canadian companies will need to The global market for alternative cannabis products
continue innovating to secure a strong, sustainable is expected to nearly double over the next five years,
competitive position as legislation evolves in other to US$194 billion. More than half of the estimated
countries. C$2.7-billion Canadian market for edibles and
alternative cannabis products will be spent on
"The global cannabis market is enormous, and edibles ($1.6 billion), followed by cannabis-infused
Canadian firms are well-positioned to play a pivotal beverages ($529 million), topicals ($174 million),
role as this market grows and evolves," said Lee. concentrates ($140 million), tinctures ($116 million),
"Cannabis companies with strong professional and capsules ($114 million).
leadership and business fundamentals, a focused
strategy, and a willingness to place bets—while Source: Deloitte
DECEMBER 2019 | BUSINESS ELITE CANADA 19
