But David Lobo, OCS’s interim president and CEO, cautioned industry players to gird themselves for some right-sizing. That could result in some stores closing down once faced with higher competition and a crowded marketplace., some cannabis outlets in Toronto that just recently opened their doors appear to already be up for sale.
With the newly legal states in the U.S., Headset is forecasting that the U.S. weed market will surpass US$30 billion in 2022. As for Canada, the projected market has not changed much over the last quarter — this is to be expected since the market is fully legalized — but could reach US$5.5 billion .
Headset also envisions some changes when it comes to product categories. In Canada, flower’s share of the market is expected to fall and pre-rolls to rise in 2021-2022, the report notes. Other categories, however, are expected to remain fairly stable.
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