With less than a month to go before cannabis is legalized, Statistics Canada has released new estimates about how large the market may be in the fourth quarter.
StatsCan estimates that 5.4 million people will be wanting to buy legal cannabis in the year’s fourth quarter, with an estimated $1 billion in purchases expected.
The expenditures may range from $816 million to more than $1 billion, StatsCan reports.
Meantime, StatsCan says 1.7 million people are expected to continue buying illegal cannabis after legalization.
“The estimates imply illegal cannabis sales may account for about 24 per cent of the total market,” upon legalization, according to Statistics Canada.
All estimates are derived using census population data and statistics from the National Cannabis Survey.