One of the most anticipated promises of cannabis legalization in Canada is the potential for brand-new consumers to join the space and broaden the market available. Now a new study shows that may not be entirely the case.
Among its top findings, the government said nearly 80 percent of Canadians polled are not contemplating trying cannabis for non-medical purposes, or are not planning to increase the amount they consume if they have already consumed.
Consumer patterns tracked during Q1 2018
According to the data collected, over half of 4.2 million Canadians consume some form of cannabis on a daily or weekly basis.
Six percent of Canadians who said they had not consumed cannabis in the past three months said they “would likely try” it.
The study found over 20 percent of the surveyed population spent over C$250 on cannabis products. Over 30 percent also said they did not spend any amount on these products over the last three months.
However, this may relate to the fact that, according to the study, 31 percent of the respondents claim to have gained access to cannabis thanks to a family member or a friend. Only one in seven from the polled Canadians are said to have obtained their products through a licensed producer.
“When asked if their purchasing [behaviors] might change with the legalization of cannabis, half of the consumers said they would change their source of supply,” the report states.
Canadian agency will continue collecting data
From the data collected by Stats Canada, dried flower still dominates the market in terms of reported consumed product.
Oil cartridges and vape pens are lumped together into their own category at the third spot of products used by cannabis consumers this past quarter, tied with Hashish.
According to a chart in the study, the province with the highest percentage use of cannabis in the past three months is Nova Scotia closely followed by Alberta, BC and Manitoba all with the same percentage.
Stats Canada has indicated that this study will be updated each quarter of the year.
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Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.