In April 2017, the Canadian government announced new legislation to legalize cannabis for recreational use. On October 17th, 2018, the country became the first in the G7 and the second country in the world to fully legalize the cannabis. Cannabis testing business

The legislation divides the responsibilities of regulations between the federal and provincial governments. Ottawa regulates production, including licensing producers and ensuring the safety of the country’s cannabis supply. Federal regulations put the minimum purchase age at 18, allow people to grow up to four plants at home and set strict rules on packaging and branding.

Sales at cannabis stores in the first three months after legalization totaled $151.5 million and reached $1,186 million in 2019, $2,625 million in 2020, $3,922 million in 2021 and 2022 brought in over $4,510 million according to Statistics Canada. Cannabis business pro forma

Legal cannabis spending in Canada, including medical and recreational products, is expected to generate up to $5.2 billion by 2024, according to a new report “Canada Leads the Way on Global Cannabis Legalization” released by Arcview Market Research and BDS Analytics.