The future looks green as Canada becomes one of the first countries with a national legalization plan for marijuana. This is noteworthy for current and future licensed producers, paving the way for some interesting industry trends. Here are five predictions for cannabis production in Canada.
1. Accelerated Licence Approval
It’s a tough process to get every step of the licensing application completed to be a licensed producer. The growth and rise of applications in Canada, however, indicates that new applicants are learning from past mistakes. They’re getting guidance on all parts of the process, entering the market with improved success rates.
This approval trajectory is forecasted to speed up as businesses and potential growers polish their business plans and succeed in significantly higher approval rates. Learning from those who made mistakes the first round has left newcomers better equipped with valuable knowledge for designing future facilities and drafting applications.
2. “Diverse” Producers
We’ve seen niche pockets in the food and health industries, and marijuana may be the next area to join in. While producers are somewhat similar across the board, over time, unique producers are bound to develop throughout the country. Innovative business formulas are paving the way for more creative ideas, and this could contribute to different types of licensed producers. As for today, here’s what new medical cannabis patients should know about licensed producers.
Craft marijuana could be as regular as craft beer, creating a new angle entirely. We could see “organic” producers and small, artisanal licensed producers. A new class will trailblaze ahead as producers become distribution experts or selling connoisseurs. What are the most common medical marijuana strains? They’re likely to evolve as the industry expands.
3. Exporting Experts
Canada’s legalization of marijuana opens new doors regarding marijuana exporting, and this new market has not been missed by well-capitalized cannabis companies. Canopy and Aurora Cannabis Inc. are two Canadian examples ready to play internationally, having already discovered a unique window of opportunity to make themselves indispensable cannabis exporters—at least until other countries are set up with a federal marijuana regulation.
It only makes sense to expand outside our borders: Canada will have the compliance, the regulations, and the production system in place to provide the foreign market with a broad-based, quality-controlled supply. Legalizing this product across the country implements a new standard for the medical cannabis industry, and it’s these standards that act as great prospects for other countries that don’t yet have the mechanisms in place regarding national legalization.
4. Streamlined Regulations
Regulations can be tricky to understand and stringent to follow, which is understandable given the government’s thorough process in vetting potential producers. Protocols may loosen slightly once the industry becomes established. The bar will always remain incredibly high, but as time passes, even Health Canada may be able to find areas that could benefit from flexible regulations.
Quality and security are big issues, but even producers will learn where they can adapt these guidelines. The industry as a whole will learn what works and what doesn’t to grow from their past mistakes and operate more efficiently.
5. Outdoor Businesses
At some point, we may very well see outdoor licensed producers. Canada is so geographically large and has so many diverse regions regarding the weather and climate that there’s huge potential to specialize in and grow various strains outside of greenhouses in different parts of the country. It will be a slow transition, and Health Canada will have to be on board with outdoor growers, but if enough pressure exists to grow cannabis outside, it could very well happen.
For more information on the medical marijuana industry, check out Aleafia Health. Their knowledgeable staff and researchers stay up to date on changing regulations, industry trends, and everything related to medical cannabis.